Last week, the value of Bitcoin also plummeted to $86,138 (~RM380,000) compared to the highest value of $106,449 (~RM469,652) reached on December 16 last year. This is the lowest value since 2025 began and bucked the upward trend that occurred after Donald Trump won the US presidential election on November 6.
Today it rose again to $94,801 (~RM424,082) after President Trump announced that the United States would have a cryptocurrency reserve in the form of Bitcoin, ETH, XRP, SOL, and ADA. This, according to him, will make America the world's leading crypto country. In addition to Bitcoin, the value of other cryptocurrencies also increased after the announcement was made.
The announcement was made a day after news that investors had lost more than $12 billion because of owning the TRUMP memecoin that he launched a month ago. Apart from Trump, Argentine President Javier Melei was also embroiled in a crypto scandal after the Libra memecoin skyrocketed in value after being promoted by him.