Crypto Person of the Year Shocks Markets; BTC Dips to $87K
Trump named “Crypto Person of the Year” as bitcoin retreats to $87,000 after a year of sharp gains
President Donald Trump has been named “Crypto Person of the Year,” a recognition that comes after a year in which digital-asset markets saw a prolonged rally followed by a notable pullback.
For much of the year, crypto markets were strong. Bitcoin nearly doubled from the time Trump was elected in November 2024 to an all-time high of around $126,000 per coin in October. More recently, bitcoin has declined to $87,000.
The recognition also reflects Trump’s public posture toward the industry. Trump, the majority shareholder of Trump Media, has actively championed the growth of cryptocurrency.
The combination of a high-profile political endorsement and large price swings underscores two defining features of the current crypto landscape: growing mainstream relevance and continued volatility, even after periods of significant appreciation.
