Trump Turns from Skeptic to Bitcoin Proponent
1. Policy Shift & Executive Actions
In January 2025, President Trump signed Executive Order 14178, establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile—funded using crypto seized by federal agencies—and banning development of a CBDC .
Numerous pro-crypto regulators were appointed under his administration, including SEC Chair Paul Atkins, CFTC’s Brian Quintenz, and crypto‑AI czar David Sacks—all signaling a friendly regulatory environment .
2. Trump Media’s Bitcoin Investment Push
Trump Media & Technology Group (TMTG) plans to raise $2.5 billion (via stock and convertible bonds) to build a bitcoin treasury—adding to its earlier holdings (~$759 million) .
The company also filed for a "Crypto Blue Chip ETF", to include ~70% BTC, with the remainder diversified across Ethereum, Solana, CRO, and XRP .
MarketWatch separately reports a similar Bitcoin ETF filing via Crypto.com, highlighting strong media-linked crypto moves .
3. Memecoin Mania & Ethics Concern
Trump launched the $TRUMP memecoin in January 2025, quickly rising into the top 20 by market cap, spiking over 300% on day one .
A high-dollar private “memecoin dinner” in May—attended by top $TRUMP holders—sparked major ethics complaints about conflicts of interest and foreign influence .
4. Market Impact & Price Surge
Bitcoin surged to record highs—over $118K, up ~26% YTD—driven by institutional inflows and alignment with Trump’s supportive policies .
Analysts suggest that the combination of Trump’s pro-crypto stance and regulatory clarity could support BTC’s ascent to $250K or beyond .