Bitcoin Breaks $104K, Trump Plans Crypto Order

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MARKETS TREND

President-elect Donald Trump may issue an executive order making cryptocurrency a national priority as early as the first day of his new term, causing Bitcoin to rejoin the cryptocurrency rally on Friday.

The flagship cryptocurrency increased by over 4% for the last day, trading at $104,000 as seen on Binance. Coinbase and Robinhood, two exchange operators, saw their shares rise roughly 5% and 3%, respectively.

The bullish run comes after a report that surfaced late Thursday suggesting that Trump might establish the advisory council for crypto assets, providing the sector with a voice in his administration.

The New York Times said the same day that talks regarding a potential executive order that would address various aspects of crypto policy included a bitcoin stockpile.

Trading platforms gain from trading activity in small-cap cryptocurrencies.

There has been an increase in demand for higher-risk, smaller-cap coins; Litecoin has risen by more than a fifth in the last two days In anticipation of Trump’s inauguration.

Additionally, Trump stated that he intends to make cryptocurrencies a national priority, and contemplated establishing a strategic government Bitcoin stockpile, akin to the U.S. current oil and gold reserves to bolster the U.S. S. financial environment.

Trump, a former skeptic of cryptocurrencies, embraced the sector, igniting hopes for broader adoption of digital assets and less stringent regulations.  the cryptocurrency community will host the “Inaugural Crypto Ball” today to help Trump fulfill his pledges after taking office in January,

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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