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Price of Bitcoin rises 2.5 percent after Trump’s executive order
(MENAFN) On Friday, the price of Bitcoin surged by 2.5 percent, following US President Donald Trump’s signing of an executive order focused on cryptocurrency markets. As of 06:45 GMT, Bitcoin was priced at approximately USD104,736, with its market capitalization climbing to USD2.07 trillion. This increase marks a significant jump in value, reflecting positive sentiment in the cryptocurrency market after the executive order was announced.
The transaction volume of Bitcoin over the last 24 hours reached around USD100.44 billion, highlighting continued investor interest and market activity. Bitcoin's price had recently reached an all-time high of about USD109,000 earlier in the month, partly driven by the positive momentum following Trump’s inauguration and the subsequent executive order.
Alongside Bitcoin, Ethereum also experienced a price increase, rising by 4 percent to USD3,381 during the same period. This upward movement in Ethereum’s value reflects broader optimism within the cryptocurrency market, spurred by the potential regulatory advancements outlined in Trump’s executive actions.
The executive order includes provisions for establishing regulations and technologies related to cryptocurrency and its future growth in the US. One key element of the order is the formation of a Working Group on Digital Asset Markets, tasked with examining the creation of a national digital asset stockpile, which could play a crucial role in advancing the cryptocurrency industry in the country.
The transaction volume of Bitcoin over the last 24 hours reached around USD100.44 billion, highlighting continued investor interest and market activity. Bitcoin's price had recently reached an all-time high of about USD109,000 earlier in the month, partly driven by the positive momentum following Trump’s inauguration and the subsequent executive order.
Alongside Bitcoin, Ethereum also experienced a price increase, rising by 4 percent to USD3,381 during the same period. This upward movement in Ethereum’s value reflects broader optimism within the cryptocurrency market, spurred by the potential regulatory advancements outlined in Trump’s executive actions.
The executive order includes provisions for establishing regulations and technologies related to cryptocurrency and its future growth in the US. One key element of the order is the formation of a Working Group on Digital Asset Markets, tasked with examining the creation of a national digital asset stockpile, which could play a crucial role in advancing the cryptocurrency industry in the country.
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