The Bitcoin price has surged to an all-time high of $111,000. This rise is likely attributed to Donald Trump. Despite earlier promises, it's now clear that the Trump administration will continue working with massive budget deficits.
Trump initially vowed to address the national debt issue, but his new tax and spending plan indicates otherwise. Wall Street is realizing that the U.S. will continue running large deficits, leading to decreased confidence in the dollar and government bonds. Investors are turning to scarcity assets like Bitcoin for safety.
Bitcoin had already gained momentum earlier in 2025, with gold initially leading as a safe haven. However, Bitcoin has since risen by $37,000 from its April low, driven by institutional buying and shifting investor sentiment.