Bitcoin has experienced significant volatility recently, especially following Donald Trump’s address at a prominent cryptocurrency conference.
During his remarks at the Digital Asset Summit (DAS) in New York on Thursday, Trump discussed how Bitcoin, the largest cryptocurrency, has rebounded after losing value over the past few months.
After peaking at over $100,000 (£77,200) in December 2024, Bitcoin fell to $79,000 (£61,000) amidst broader economic concerns tied to the Trump administration. However, leading up to Trump’s speech, it climbed back to $86,000 (£66,400).
Addressing the audience via video from the White House, Trump expressed his ambition to position the U.S. as a “superpower” for Bitcoin and the “undisputed crypto capital of the world.” He also emphasized measures taken by his administration to loosen regulations affecting the crypto sector.
Trump criticized the previous “operation chokepoint 2.0,” which discouraged financial institutions from engaging with high-risk sectors, particularly cryptocurrencies, deeming it excessive and a form of “lawfare.” He also revealed plans for a U.S. government Crypto Federal Reserve to manage certain cryptocurrencies acquired by state operations.
Bitcoin’s journey has been remarkable over recent years, rebounding from a low of $16,000 (£12,300) in 2022, particularly gaining momentum following the Bitcoin halving event on April 20, 2024. This event, which occurs approximately every four years, is designed to control inflation by cutting the rewards for Bitcoin mining in half, which can subsequently lead to price surges.
Aaron Peak, a personal finance expert at CredAbility, noted, “Bitcoin is notoriously volatile: prices can surge or crash unpredictably, so investors should always be cautious.” He reiterated that Bitcoin’s value has seen dramatic fluctuations recently as well as in the past.
