The price of Bitcoin surged by 2.5% on Friday following an executive order signed by US President Donald Trump aimed at cryptocurrency markets.
As of 0645 GMT, Bitcoin’s value reached approximately $104,736, with its market capitalization climbing to $2.07 trillion. In the past 24 hours, the transaction volume for Bitcoin was recorded at around $100.44 billion.
Earlier this month, Bitcoin achieved its highest value to date, peaking at nearly $109,000, a milestone attributed to the impact of Trump’s inauguration. Analysts believe the cryptocurrency’s rapid ascent reflects growing investor confidence in digital assets and their role in the evolving financial landscape.
Ethereum also experienced a significant increase, with its price rising by 4% to $3,381 during the same timeframe. This surge adds to the ongoing positive momentum seen across the broader cryptocurrency market, which has been buoyed by favorable regulatory developments.
These market movements followed the introduction of Trump’s executive order, which focuses on establishing regulations and advancing technologies related to cryptocurrencies within the United States. The executive order underscores the government’s intention to provide a structured framework for digital assets, aiming to enhance security, transparency, and innovation in the sector.
A key element of the order is the creation of a Working Group on Digital Asset Markets. This group has been tasked with examining the feasibility of a national digital asset stockpile, a move that signals the administration’s long-term commitment to integrating cryptocurrencies into the national financial system. Experts suggest this initiative could pave the way for broader institutional adoption and the development of a regulated digital economy.
Market analysts have noted that this policy shift could inspire other nations to adopt similar measures, potentially leading to greater global acceptance of cryptocurrencies. The executive order is viewed as a pivotal moment for the digital asset industry, aligning government policies with technological advancements to drive growth and innovation.
