Bitcoin has surged over 170% in 2025, reaching new all-time highs amid a wave of market optimism fueled by U.S. President-elect Donald Trump’s pro-crypto stance. With Bitcoin briefly approaching the $100,000 milestone and market capitalization exceeding $1.95 trillion, the digital asset has captured global investor attention. At the same time, Dogecoin (DOGE) has surged 120% on policy speculation and celebrity influence, reigniting enthusiasm across the crypto ecosystem.
This year’s rally is not just about price—it reflects a broader shift in institutional adoption, regulatory expectations, and macroeconomic sentiment. As traditional investors eye exposure through ETFs and blockchain-related equities, questions arise: Is now the right time to enter? What are the risks? And what’s the smartest way to gain exposure without overexposure?
Bitcoin’s 2025 Surge: From Election Momentum to Institutional Inflows
In the 24 hours following Trump’s election victory, Bitcoin trading volume spiked to approximately $72.74 billion. Since early November, the flagship cryptocurrency jumped from under $70,000 to nearly $99,600 by late November—briefly surpassing $98,800 in midday trading on November 23.
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This surge was driven by what analysts call a “honeymoon rally,” where markets react positively to anticipated policy changes. Trump, who campaigned on making the U.S. the “crypto capital of the world,” has signaled support for favorable regulation and even proposed establishing a dedicated White House digital assets office.
Additionally, speculation around a potential Bitcoin Strategic Reserve Act—a legislative draft introduced in mid-2025 calling for the U.S. Treasury to purchase up to 200,000 BTC annually for five years—has further boosted confidence. If passed, this could see the U.S. government hold up to 1 million BTC, representing about 5% of total supply.
Dogecoin Rides the Wave of Policy and Pop Culture
While Bitcoin dominates headlines, Dogecoin has emerged as a dark horse in 2025. The meme coin surged over 120% in two weeks following Trump’s announcement that Elon Musk would co-lead a newly formed “Department of Government Efficiency” (DOGE). The acronym coincidence sparked viral speculation, driving retail buying momentum.
Elon Musk, a long-time Dogecoin advocate, has repeatedly endorsed its utility as a payment mechanism. With Tesla’s stock climbing post-election and Musk reclaiming the title of world’s richest person, his influence on crypto markets remains undeniable.
Despite its origins as a joke currency, Dogecoin’s growing integration into real-world transactions—including select merchants accepting it for goods and services—has lent it increasing legitimacy.
How U.S. Companies Are Fueling Crypto Adoption
American corporations are playing a pivotal role in mainstream crypto adoption. MicroStrategy (MSTR), led by Bitcoin bull Michael Saylor, holds over 331,200 BTC at an average cost below $50,000. Following Bitcoin’s rally, MicroStrategy’s market cap entered the top 100 U.S. public companies.
On November 20, MSTR shares outperformed the broader market with a single-day gain exceeding 10%, ranking second only to NVIDIA (NVDA) in trading volume on Wall Street. This demonstrates how corporate Bitcoin holdings are becoming a significant driver of equity performance.
Meanwhile, Coinbase (COIN), one of the largest U.S.-based crypto exchanges, continues to benefit from increased trading activity and regulatory clarity discussions under the new administration.
Investing in Bitcoin via ETFs: A Safer Path for Retail Investors?
For investors hesitant to directly hold Bitcoin due to custody concerns or tax complexity, exchange-traded funds (ETFs) offer a regulated alternative.
In Taiwan, the Yuanta Global Digital Payment Services ETF (00909) has gained popularity due to its strategic exposure to blockchain and crypto-adjacent assets. Its top holding is MicroStrategy, with a 10.55% weighting, followed by Coinbase at 5.01%. Over three months, the fund delivered a return of 31.41%, outperforming more than 200 other ETFs.
A key advantage for Taiwanese investors: capital gains from selling ETFs are currently exempt from comprehensive income tax—unlike direct cryptocurrency transactions, which will be subject to taxation starting in 2026.
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Still, experts caution that while ETFs reduce operational risk, they don’t eliminate market volatility. The underlying assets remain highly sensitive to macro trends, regulatory news, and sentiment shifts.
Global Trends Supporting Long-Term Bitcoin Growth
Bitcoin is no longer a niche asset. Several structural developments point to long-term resilience:
- Halving Cycle Impact: The April 2025 Bitcoin halving reduced block rewards from 3.125 to 1.5625 BTC per block. Historically, such events precede bull markets due to constrained supply growth.
- Nation-State Adoption: El Salvador continues its “buy and hold” strategy, accumulating over 5,929 BTC worth approximately $480 million—funded entirely through tourism revenue and dollar reserves.
- Institutional Demand: Spot Bitcoin ETFs in the U.S. have seen consistent inflows since approval in early 2024, indicating sustained interest from pension funds and asset managers.
These factors contribute to a narrative of scarcity and increasing institutional legitimacy—key drivers behind Bitcoin’s price appreciation.
Regulatory Uncertainty Remains a Key Risk
Despite favorable political winds, regulatory clarity remains incomplete globally. While Trump’s administration may ease SEC oversight—with Chair Gary Gensler expected to step down in January 2026—long-term policy stability depends on legislative action.
Investors should remain cautious:
- Crypto regulations vary widely between jurisdictions.
- Market manipulation risks persist in less-regulated exchanges.
- Volatility can lead to sharp drawdowns even after extended rallies.
Experts recommend allocating only a small portion of a diversified portfolio to digital assets—typically between 1% and 5%, depending on risk tolerance.
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Frequently Asked Questions (FAQ)
Q: Why did Bitcoin surge after Trump won the election?
A: Markets anticipated pro-crypto policies, including lighter regulation and potential government purchases of Bitcoin. Trump's campaign promise to make the U.S. the “crypto capital of the world” boosted investor confidence.
Q: Can I invest in Bitcoin without buying it directly?
A: Yes. You can gain exposure through Bitcoin-related ETFs like 00909 (Taiwan) or U.S.-listed spot Bitcoin ETFs. Alternatively, stocks like MicroStrategy or Coinbase offer indirect exposure.
Q: Is Dogecoin’s price surge sustainable?
A: While driven by hype and celebrity influence, Dogecoin’s real-world use cases remain limited compared to Bitcoin or Ethereum. It carries higher speculative risk and should be approached cautiously.
Q: How does the Bitcoin halving affect price?
A: The halving reduces new supply entering the market every four years. Historically, this supply shock has preceded major price increases due to growing demand against tighter issuance.
Q: Are crypto gains taxable in Taiwan?
A: Direct cryptocurrency transactions will be subject to capital gains tax starting in 2026. However, profits from selling ETFs like 00909 are currently tax-exempt for individual investors.
Q: What percentage of my portfolio should go into crypto?
A: Most financial advisors suggest limiting crypto allocations to 1–5% for moderate-risk portfolios. Due to high volatility, it should complement—not replace—core investments like stocks and bonds.
As Bitcoin solidifies its place in global finance, strategic entry points and risk-aware investing are more important than ever. Whether through direct ownership or regulated financial products, understanding the forces shaping this market is essential for informed decision-making in 2025 and beyond.