Business
Bitcoin Soars 2.5% Following Trump’s New Regulation
Market cap of Bitcoin at $2.07T
The price of Bitcoin soared by 2.5% on Friday after US President Donald Trump signed an executive order on cryptocurrency markets.
The current price of Bitcoin is at around $104,736 as of 0645GMT, and its market cap increased to $2.07 trillion.
Bitcoin’s transaction volume in the last 24-hour period was around $100.44 billion.
This month, the price of Bitcoin saw the highest-ever value of around $109,000 due to Trump’s inauguration.
Ethereum prices also rose by 4% to $3,381 over the same period.
These hikes came after Trump’s new executive order which includes establishing regulations and technologies related to cryptocurrency and its advancement in the US.
Establishing a working group, named Working Group on Digital Asset Markets, to examine a national digital asset stockpile was also included in the order.
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