Crypto Market Sees New Hope with Trump’s Potential Executive Order
The cryptocurrency market is abuzz with excitement as reports emerge that President-elect Donald Trump may release an executive order making crypto a national priority as soon as his first day in office. This news has sent Bitcoin’s price soaring, with the flagship cryptocurrency up nearly 2% at $102,639.13, according to Coin Metrics.
Broader Market Sees Gains
The broader crypto market, as measured by the CoinDesk 20 index, has also seen a significant increase of 1%, following a 4% surge on Thursday. Shares of exchange operators Coinbase and Robinhood have advanced about 3% each in premarket trading, indicating a growing appetite for smaller cap, higher-risk coins.
Litecoin and XRP See Double-Digit Gains
Litecoin and XRP have surged double digits in the past two days, with investors betting on clear and supportive policy and regulation from the incoming administration. Coins and crypto projects outside of Bitcoin arguably stand to gain more from this development, having been targeted by Biden administration lawsuits and alleged banking discrimination.
Bitcoin Stockpile Discussions
A Bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy, according to the New York Times. Some investors believe that if a national stockpile or reserve is implemented, Bitcoin could see a significant rally, potentially reaching new record highs.
Inflows into Bitcoin ETFs
Bitcoin ETFs have seen more than $1 billion in inflows in the past two days, indicating growing investor confidence in the cryptocurrency. With expectations high for announcements from the incoming administration next week, Bitcoin could potentially reach new heights.
Wall Street Weighs In
While some Wall Street analysts have warned that it may take time for the market to feel the impact of a pro-crypto Congress and White House, others believe that the new administration and SEC chairman will open the door for new opportunities in cryptocurrency innovation.
Record Highs in Sight
Bitcoin’s record high of $108,327.01, set on December 17, is within reach, with the cryptocurrency up 9% in 2025. As the market waits with bated breath for announcements from the Trump administration, one thing is clear: the future of cryptocurrency has never looked brighter.
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