BTC/USD: Bitcoin Chases $103,000 on Trump Plans to Make Crypto a National Priority

Report by Bloomberg said the incoming President will tap key industry players for executive roles within his administration.

🔎 Bitcoin Zeroes In on $103,000

• Bitcoin prices BTCUSD advanced to levels near $103,000 Friday morning after traders ramped up their bets on the token following a bullish sign from Washington. Donald Trump is looking to make crypto a top priority for his administration, according to a report by Bloomberg.
• The pro-crypto policy from the upcoming White House administration, the report said, will be executed by industry mainstays and experts in the field of digital assets. In other words, we’re so back?

🦅 Made in the USA

• What’s more, the executive order is expected to make crypto a national imperative for government agencies that will be working to promote the industry’s growth and mainstream adoption. If true, this would mark a huge turnaround point for digital assets, which were under fire from the Biden administration.
• Trump has stated many times he’s a big supporter of crypto and wants to do his utmost best to expand the industry’s footprint within the US — to the point where he wants “all Bitcoin to be made in the USA.”

🙂 ”Fine by Me,” Bitcoin, Probably

• Bitcoin doesn’t seem to mind. The flagship token hit a record of $108,000 after Trump secured the White House for another four years. And the broad market followed right up, hitting an all-time high valuation of more than $3.7 trillion in mid-December.
• Since November 5, Election Day, Bitcoin has added more than 50% to its valuation, which this morning was sitting at more than $2 trillion. That’s about 56% of the entire crypto market cap.