Between 2016 and 2020, during President Donald Trump's first term, Bitcoin’s price surged over 1,900%, driven by growing market interest despite Trump's critical stance on cryptocurrency. Notably, in 2019, he tweeted that Bitcoin was “highly volatile” and its value was “based on thin air.” Nevertheless, Bitcoin's price ascended as Trump’s economic policies spurred broader financial risk-taking and innovation.

Following Trump’s re-election on November 6, Bitcoin reached a new high of $76,400, and experts now predict it could surpass $100,000. Analysts are cautiously optimistic, given Trump’s recent campaign promise to turn the U.S. into a “Bitcoin superpower” through deregulation, which could fuel growth across the cryptocurrency sector. However, repeating a 1,900% rise would mean Bitcoin’s price hitting $1.5 million—a scenario most find unrealistic due to economic scale and market limitations. If Bitcoin ever reaches $1 million, it would represent a $28.5 trillion asset class, vastly outpacing Nvidia’s market cap and exceeding gold’s total valuation by 1.6 times.

Many industry leaders, including Cathie Wood, CEO of ARK Invest, foresee Bitcoin reaching $1 million by 2030, anticipating that major banks such as Morgan Stanley and Bank of America could soon enter the market. Henry Arslanian of Nine Blocks Capital Management similarly suggested that a second Trump term might encourage more institutional involvement, expanding interest from asset managers to family offices and potentially transforming the crypto market in the U.S.