The price of bitcoin has surged on Tuesday amid hopes that Donald Trump is about to sign a pro-crypto executive order as one of his first acts as US president,.
Trump has promised to promote digital currencies during his presidency, suggesting that he will loosen regulations and help booster their adoption.
But as his presidency approached, he also offered more specific support to the cryptocurrency market. After the launch of his own $TRUMP coin, his wife launched her own $MELANIA competitor – the combination of which led to volatility in the cryptocurrency market.
Trump launched his own coin on Friday night, marketing it with a picture of himself holding a fist up superimposed over the words “FIGHT FIGHT FIGHT,” a reference to his response to an assassination attempt at a political rally in July.
Other cryptocurrencies have also shot up in recent days, taking the overall crypto market cap above $3.5 trillion for the first time in its history.
Key Points
- Bitcoin price hits all-time high amid Trump-fuelled frenzy
- Melania coin fairly stable as inauguration approaches
Bitcoin bounces back
16:38 , Anthony CuthbertsonThe price of bitcoin is back above $106,000, having fallen as low as $100,000 earlier today. This follows the news of MicroStrategy buying another sizable chunk of cryptocurrency, as well as speculation that Trump will sign some sort of pro-crypto executive order “imminently”.
Other cryptocurrencies are also surging, most notably Ripple (XRP) and Solana (SOL), which are both up by more than 20 per cent week-on-week.
Solana has seen a significant boost from having both the $TRUMP and $MELANIA meme coins built using its network.
If you want to learn more about Solana, here’s a run-down of everything you need to know about the world’s fourth most valuable cryptocurrency:
What is Solana? The crypto that is rising 200-times faster than bitcoin in 2021
MicroStrategy buys another $1 billion of bitcoin
15:23 , Anthony CuthbertsonMicroStrategy chairman Michael Saylor, who has been one of the world’s most prominent bitcoin advocates for several years, has just announced that his company has acquired another 11,000 BTC.
That brings the firm’s total holdings to 461,000 – worth nearly $50 billion at today’s prices.
This makes MicroStrategy the world’s largest holder of bitcoin, controlling a significant chunk of the 21 million bitcoins that will ever exist. Any indication that MicroStrategy aims to sell would be devastating to the market, though fortunately Saylor is also one of the world’s most vocal advocates of ‘Hodling’ and never selling.
MicroStrategy has acquired 11,000 BTC for ~$1.1 billion at ~$101,191 per bitcoin and has achieved BTC Yield of 1.69% YTD 2025. As of 1/20/2025, we hodl 461,000 $BTC acquired for ~$29.3 billion at ~$63,610 per bitcoin. $MSTR https://t.co/SOgvMscghy
— Michael Saylor⚡️ (@saylor) January 21, 2025
Bitcoin executive orders ‘imminent'
13:37 , Anthony CuthbertsonDespite no crypto-related executive orders yesterday, the head of one of the world’s biggest cryptocurrency exchanges believes there will be some “imminently”.
Circle chief executive Jeremy Allaire said he expects a bitcoin strategic reserve announcement, as well as the repeal of a Securities and Exchange Commission (SEC) rule that punishes banks for holding cryptocurrencies on their balance sheets.
“That’s something I think to watch closely in terms of EOs (executive orders),” Allaire said during an interview with Reuters at this week’s World Economic Forum’s annual meeting in Davos. “I’m strongly in favour of repealing it and I would hope that President Trump would take that action... We expect Committee work to be very active, literally in the coming weeks.”
What next for bitcoin price and crypto now that Trump is in office?
12:28 , Anthony CuthbertsonDonald Trump’s return to the White House was eagerly awaited by some sections of the crypto space, with hopes that he would deliver on his pledge to make the US the “crypto capital of the planet”.
It’s been nearly 24 hours since he took office, and despite a flurry of executive orders, no action has been made relating to bitcoin or cryptocurrencies.
There’s still plenty of time, however, so what might we expect over the coming days and weeks?
We’ve heard from a few experts:
With continued adoption amplified by macro-economic and geopolitical uncertainty, short-term sentiments and market speculations, I expect bitcoin’s price to stay volatile with a general upward trend in the next 12 months, going as low as $70k, or as high as $150k. But over the next 3-4 years, I see a good chance to realise a $400-$500k price range for the ‘digital gold.
The new administration’s plans to bring in new economic, social and foreign policy initiatives, coupled with decisions by nations and states to build Bitcoin Strategic Reserves could also open huge marketing windows to promote bitcoin awareness and drive wider adoption. Inversely, as the market expectations are building up for such a decision, and if no such decisions are made, we may see major bitcoin price pullback
[Trump’s] long-term impact on the trajectory of the sector will be defined by the policies he rolls out, not his rhetoric. The potential creation of a new crypto policy council is an interesting first move, and in his first 100 days, expect to see plenty of current legislation come under scrutiny and reform, such as the SEC’s SAB 121, which has created compliance roadblocks and discouraged banks from expanding their crypto product offerings.
While clearer regulation and stronger paths for institutional adoption seem to be on the way, the progress won’t be immediate. Legislative change takes time, and political factors will be at play before we start to see the true impacts of Trump’s administration.
There has been discussion and speculation around the adoption of bitcoin to the US Strategic Reserve, as well as the potential creation of a crypto advisory council to champion the industry’s priorities.
Given that we’ve already seen the impact Trump, the Republican party and their pro-crypto stance can have on the market, we know that the days and weeks ahead could result in positive returns for investors.
Long-term, we can expect that this anticipated bull market period will continue well after the inauguration, as pro-crypto regulations continue to be rolled out and the economic outlook continues to improve. The SEC, under new leadership, is preparing to overhaul the regulatory landscape surrounding crypto, shaping the industry for the better. This pro-crypto administration will lead to digital assets becoming more integrated into the broader economy, fostering an increase in adoption among market participants and strengthening prices for digital currencies across the board.
There is talk in regards to President Trump’s administration that leans towards appointing crypto-friendly officials and rolling back on restrictive policies, but whether these changes will bring any actual clarity is a question yet to be answered.
I expect that the stablecoin space, in particular, is going to see advancements in 2025, including the growing role of stablecoins that are pegged not to the USD, but to other local currencies. They are the future of global payments and that means that they will have to start interacting more closely with other fiat currencies.
Trump’s statements hint at a more supportive stance toward crypto, but the long-term impact will depend on whether his administration can craft policies that strike a balance.
Barron Trump meme coin crashes
11:08 , Anthony CuthbertsonLike father, like son: A Barron Trump meme coin has crashed in price after briefly seeing a market cap close to half a billion dollars.
Unlike his father (and mother), however, 18-year-old Barron Trump has not actually launched his own cryptocurrency. Instead, the BARRON meme coin appears to be an unofficial token created by someone hoping to make a quick buck.
There may be a link back to the Trump family, however, with Coinbase’s Conor Grogan making a link with an account used by the creator of the official $MELANIA token.
“$MELANIA founder uses a deposit address on Kucoin,” he wrote on X. “Another address also used that deposit address, explicitly linked the two. In 99% of cases Ive seen that means they are the same person, but not always. It does mean that they are connected... At the very least it means that someone who knows the creator (and has sent significant money to them) purchased the token.”
Trump’s meme coin plummets
10:14 , Anthony CuthbertsonDonald Trump’s official meme coin is trading at around $36 this morning, down by more than 50 per cent since Sunday.
The sudden drop in price has been mirrored by the meme coin launched by his wife Melania over the weekend, with their combined market caps dropping from $17 billion to just $8 billion in less than 48 hours.
It follows a broader downturn of the crypto market since Trump’s inauguration on Monday, as the incoming president failed to deliver on his campaign promises on his first day in office. Investors and crypto experts remain hopeful that he will issue some pro-crypto executive orders over the coming days.
Bitcoin price retreats to pre-inauguration level
08:04 , Anthony CuthbertsonThe price of bitcoin has retreated from its record highs yesterday, though still remains above the $100,000 level.
This comes after the initial excitement surrounding Donald Trump’s inauguration was muted by a lack of significant action in the crypto space on the part of the incoming US president.
Having previously promised to set up a bitcoin strategic reserve and introduce pro-crypto regulation, none of Trump’s initial executive orders focussed on cryptocurrency.
Industry figures are still hopeful that he will deliver on his pledge to be the first “crypto president”, with Circle CEO Jeremy Allaire saying he expects an executive order to be signed “imminently” that will allow banks to trade in crypto.
Crypto world reacts to $TRUMP meme coin
Monday 20 January 2025 19:53 , Anthony CuthbertsonDonald Trump was the darling of the crypto world after appearing at the Bitcoin 2024 Conference in Nashville last summer. He was the first US presidential candidate to be openly pro-bitcoin, telling the crowd that he was going to set up a strategic reserve and usher in a new era of crypto-friendly policies and regulation.
“We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry,” he said during a 50-minute speech, in which he also said he would make the US a “bitcoin superpower”.
But since launching his own meme coin, as well as one for his wife, some bitcoiners are now questioning his true intentions.
Something that hasn’t been much discussed - creating a bunch of personal memecoins opens the door to secretive foreign buyers trying to curry influence with our leaders. If you hated hunter biden’s anonymous art sales, you should hate this too.
— nic golden age carter (@nic__carter) January 20, 2025
“A SICK JOKE”
— Brian Krassenstein (@krassenstein) January 20, 2025
The number of Bitcoin investors who supported Trump and have reached out to me in a panic today after the launch of the $Melania coin has been overwhelming.
They are confused, disappointed, and struggling to process what’s happening.
Trump dropping his own memecoin means he has the wrong people in his ear re crypto policy.
— wassielawyer （哇西律师） (@wassielawyer) January 18, 2025
I’m now getting very concerned about the Trump presidency.
Bitcoin’s latest price gains in context
Monday 20 January 2025 18:55 , Anthony CuthbertsonBitcoin’s latest price record above $109,000 marks a 10 per cent surge over the last day. But zooming out, you can see this rally began long before Trump’s meme coin launch - and even before he was in the frame to become the Republican candidate.
The cryptocurrency has risen in value more than 500 per cent since the start of 2023, when the bull market began. It’s still not clear where the eventual peak of this rally will be, but previous cycles offer a warning of where it might go when the price correction kicks in.
Donald Trump’s net worth doubles following $TRUMP launch
Monday 20 January 2025 16:56 , Anthony CuthbertsonThe launch of the $TRUMP meme coin the weekend before his inauguration appears to have had a massive impact on the incoming president’s net worth.
Donald Trump’s net worth was around $7 billion (£5.7bn) before the launch of $TRUMP, ranking him in the world’s top 500 richest people – $7.16bn according to the Bloomberg Billionaires Index, and $6.7bn according to Forbes.
Neither of the estimations take into account his holdings of the cryptocurrency, which has a current market cap of $10bn.
The website for the $TRUMP project reveals that 80 per cent of the cryptocurrency is held by Trump Organisation affiliate CIC Digital, valuing the stake at $8bn – more than double his current net worth.
Melania and Trump memecoins have supercharged the market – but could end in disaster
Monday 20 January 2025 14:41 , Andrew GriffinPresidential memecoins have already raised – and lost – billions. That isn’t going to stop just yet, experts say.
Read more here.
How $Melania and $Trump meme coins just supercharged the crypto market
Melania coin fairly stable as inauguration approaches
Monday 20 January 2025 12:52 , Andrew GriffinIt’s now been around half a day since Melania launched her “meme”. It’s had a rocky day or so – initially surging, then falling, then surging again and now on a fall – but it’s actually almost back to where it started: it’s up 16 per cent since launch, according to CoinMarketCap.
(Strictly, that shouldn’t matter. The official website refers to it only as a “meme” and says that they are “digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA. and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type”.)
There’s another big winner of the US election: cryptocurrency
Monday 20 January 2025 12:22 , Andrew GriffinBitcoin has been busy ever since it became clear that Donald Trump was going to win the election. While it has not always been positive news, it has been volatile since November, and this week marks the latest in that.
At least some of that excitement is because Trump backed cryptocurrency during his run for the president – and has suggested he will make good on that when he takes power. Here’s a look at how bitcoin and crypto could be one of the big winners from the election.
There’s another big winner of the US election: cryptocurrency
Bitcoin price hits all-time high amid Trump-fuelled frenzy
Monday 20 January 2025 11:47 , Andrew GriffinAs the incoming president arrives, the overall crypto market has gained half a trillion dollars. Bitcoin is at record highs. And people have invested billions in the memecoins of Trump and his wife.
Here’s the latest, from Anthony Cuthbertson.
Excitement comes ahead of Trump inauguration
Monday 20 January 2025 11:09 , Andrew GriffinThe excitement in the cryptocurrency market comes as the world prepares for Donald Trump to become president again in just a few hours.
You can find all of our coverage of the inauguration in the live blog below.
Trump inauguration day LIVE: President to promise ‘thrilling new era’ in first speech
Hello and welcome...
Monday 20 January 2025 10:45 , Andrew Griffin.... to The Independent’s live coverage of the cryptocurrency market, which has been sent into a frenzy by Trump’s inauguration – and the launch of his and his wife’s memecoins.
