Bitcoin reached a fresh all-time high just hours before former President Donald Trump hosted a gala event for top holders of his $TRUMP coin. This price surge has renewed optimism around Bitcoin’s potential to perform strongly across various economic conditions.
Bitcoin Hits $111,875 Ahead of Gala
On May 22, 2025, Bitcoin’s price surged to an all-time high of $111,875 around 3:30 a.m. — just under 24 hours before Trump’s crypto gala outside Washington, D.C. The price remained elevated at about $111,300 by noon.
The gala gathered over 200 largely anonymous investors who had collectively spent $394 million on the $TRUMP memecoin, with individual purchases ranging from $55,000 to $37.7 million, according to blockchain analytics firm Nansen.
Trump’s Crypto Gala: Rewarding Top Investors
The event was part of Trump’s ongoing effort to engage and reward the crypto community, which emerged as his largest donor bloc in the 2024 election. The gala celebrates holders of the $TRUMP coin, a memecoin launched by Trump’s private organization ahead of his inauguration.
While some bitcoin enthusiasts remain skeptical of the $TRUMP coin’s backing or strategic utility, Trump’s administration has eased regulatory pressure on the crypto industry compared to the prior Biden administration.
Controversy Surrounding the Event
Critics have raised concerns about potential conflicts of interest, foreign influence, and constitutional questions tied to the gala. Notably, one of the largest $TRUMP coin purchasers, Justin Sun, is a Chinese national previously sought by U.S. authorities.
The White House has dismissed these concerns, emphasizing that Trump’s actions prioritize American interests and promote beneficial deals for the public.
Bitcoin’s Growing Appeal Amid Economic Uncertainty
Bitcoin’s price surge coincides with increased economic worries, including global borrowing concerns and bond market sell-offs. These conditions have made alternative assets like Bitcoin more attractive to investors seeking diversification.
However, debate continues about Bitcoin’s effectiveness as a hedge against inflation or market volatility. Historically, Bitcoin’s price has often tracked tech stocks and responded closely to Federal Reserve interest rate decisions.
Impact of the GENIUS Act on Bitcoin’s Price
Recently passed legislation, the GENIUS Act, officially endorses privately backed digital tokens used by crypto exchanges, particularly stablecoins. This bill is expected to broaden the pool of crypto buyers, indirectly supporting Bitcoin’s price.
Wedbush Securities’ Dan Ives notes, “It’s not going away, it’s going to be part of a lot of portfolios, even if just 2-3%. The deregulatory environment has changed how people view crypto as an investment.”
Outlook for Bitcoin and Crypto Investment
While Bitcoin remains a risky asset, its ability to decouple from traditional markets during this rally suggests growing maturity. Trump’s high-profile crypto gala and supportive regulatory shifts may further legitimize digital assets in mainstream finance.
