Bitcoin gains as Trump reportedly plans crypto executive order

Bitcoin gains as Trump reportedly plans crypto executive order


Jakub Porzycki | Nurphoto | Getty Images

Bitcoin rejoined the crypto rally on Friday amid reports that President-elect Donald Trump could release an executive order making crypto a national priority as soon as day 1 of his new term.

The price of the flagship cryptocurrency was last higher by nearly 2% at $102,639.13, according to Coin Metrics. The broader crypto market, as measured by the CoinDesk 20 index, was up another 1%, after a 4% increase Thursday.

Shares of exchange operators Coinbase and Robinhood advanced about 3% each in premarket trading. Trading activity in small cap cryptocurrencies benefits trading platforms. Appetite for smaller cap, higher risk coins has grown ahead of Trump’s inauguration, with litecoin and XRP surging double digits in the past two days.

The moves follow a Bloomberg report late Thursday that Trump could create the crypto advisory council he previously promised, giving the industry a voice within his administration. A bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy, the New York Times reported the same day.

Stock Chart IconStock chart icon

hide content

Bitcoin trades above $100,000 ahead of Trump’s inauguration

Coins and crypto projects outside of bitcoin arguably stand to gain more from clear and supportive policy and regulation as they’ve been more of a target of Biden administration lawsuits and alleged banking discrimination. Some investors say bitcoin could see a rocket ship rally, however, if a national stockpile or reserve is implemented.

Bitcoin has been trading closely with stocks so far this year. It’s been in consolidation mode since late December, when Federal Reserve chair Jerome Powell sounded an inflation alarm that subsided this week after two cool December inflation reports. Bitcoin ETFs have seen more than $1 billion in inflows in the past two days.

Investors expect any announcements from the incoming administration next week to send bitcoin higher – potentially to a new record. Heightened expectations come after warnings from Wall Street this month that although having a pro-crypto Congress and White House in 2025 is sure to be supportive for innovation in the industry and asset class, it could take a while before the market feels the impact.

“The new administration and a new SEC chairman opens the door for new opportunity in cryptocurrency innovation,” JPMorgan analyst Kenneth Worthington said in a note this week. However, he added, “we don’t see a next wave of cryptocurrency [exchange-traded product] launches as being meaningful for the crypto ecosystem given much smaller market capitalization of other tokens and far lower investor interest.”

Bitcoin’s record is $108,327.01, from Dec. 17. It’s up 9% in 2025.

Don’t miss these cryptocurrency insights from CNBC Pro:



Source

‘Bitcoin Family’ hides crypto codes etched onto metal cards on four continents after recent kidnappings
Technology

‘Bitcoin Family’ hides crypto codes etched onto metal cards on four continents after recent kidnappings

The Taihuttus on a ski trip to Sierra Nevada in southern Spain. They sold everything they owned in 2017 to bet on bitcoin — and now travel full-time as a family of five. Didi Taihuttu A wave of high-profile kidnappings targeting cryptocurrency executives has rattled the industry — and prompted a quiet security revolution among […]

Read More
Tesla Optimus robotics vice president Milan Kovac is leaving the company
Technology

Tesla Optimus robotics vice president Milan Kovac is leaving the company

Tesla displays Optimus next to two of its vehicles at the World Robot Conference in Beijing on Aug. 22, 2024. CNBC | Evelyn Tesla’s vice president of Optimus robotics, Milan Kovac, said on Friday that he’s leaving the company. In a post on X, Kovac thanked Tesla CEO Elon Musk and reminisced about his tenure, […]

Read More
Tesla already had big problems. Then Musk went to battle with Trump
Technology

Tesla already had big problems. Then Musk went to battle with Trump

President Donald Trump holds a news conference with Elon Musk to mark the end of the Tesla CEO’s tenure as a special government employee overseeing the U.S. DOGE Service on Friday May 30, 2025 in the Oval Office of the White House in Washington. Tom Brenner | The Washington Post | Getty Images Tesla has […]

Read More