By — Alan Suderman, Associated Press Alan Suderman, Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/bitcoin-hits-all-time-high-as-crypto-industry-notches-political-wins Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Bitcoin hits all-time high as crypto industry notches political wins Economy May 21, 2025 12:35 PM EDT Bitcoin hit a new all-time high as the world’s most popular cryptocurrency reached price levels not seen since President Donald Trump’s inauguration. The digital asset traded above $109,400 Wednesday morning, a huge increase from recent lows of about $75,000 last month. Several other cryptocurrencies have seen similar large gains in recent days. That includes Trump’s official meme coins, which have jumped up about 75% in the last month. The president is set to have dinner Thursday with some of the meme coins’ biggest investors, a move that’s drawn intense criticism from some Democrats who say that Trump is improperly using the power of the presidency to boost his personal wealth. WATCH: White House weighs in on why Trump plans to attend memecoin dinner Bitcoin’s price increase comes after the crypto industry scored a major win with the U.S. Senate advancing legislation that creates a federal framework to regulate the stablecoins, a fast-growing form of cryptocurrency whose values are often tied to the U.S. dollar. The bipartisan vote was a major win for the politically powerful cryptocurrency industry, which spent heavily in last year’s election and has amassed a large war chest for next year’s contests. A former skeptic turned enthusiastic booster, Trump has been a major promoter of the crypto industry and previously took credit when bitcoin’s price broke $100,000 in December. His administration has established a “strategic bitcoin reserve” for the U.S. government and dropped or paused several enforcement actions against major crypto companies. A free press is a cornerstone of a healthy democracy. Support trusted journalism and civil dialogue. Donate now By — Alan Suderman, Associated Press Alan Suderman, Associated Press
Bitcoin hit a new all-time high as the world’s most popular cryptocurrency reached price levels not seen since President Donald Trump’s inauguration. The digital asset traded above $109,400 Wednesday morning, a huge increase from recent lows of about $75,000 last month. Several other cryptocurrencies have seen similar large gains in recent days. That includes Trump’s official meme coins, which have jumped up about 75% in the last month. The president is set to have dinner Thursday with some of the meme coins’ biggest investors, a move that’s drawn intense criticism from some Democrats who say that Trump is improperly using the power of the presidency to boost his personal wealth. WATCH: White House weighs in on why Trump plans to attend memecoin dinner Bitcoin’s price increase comes after the crypto industry scored a major win with the U.S. Senate advancing legislation that creates a federal framework to regulate the stablecoins, a fast-growing form of cryptocurrency whose values are often tied to the U.S. dollar. The bipartisan vote was a major win for the politically powerful cryptocurrency industry, which spent heavily in last year’s election and has amassed a large war chest for next year’s contests. A former skeptic turned enthusiastic booster, Trump has been a major promoter of the crypto industry and previously took credit when bitcoin’s price broke $100,000 in December. His administration has established a “strategic bitcoin reserve” for the U.S. government and dropped or paused several enforcement actions against major crypto companies. A free press is a cornerstone of a healthy democracy. Support trusted journalism and civil dialogue. Donate now