Bitcoin Hits All-Time High, Fueled by Institutional Demand and Trump’s Crypto Policies
Bitcoin reached a historic peak on Friday, driven by growing institutional demand and favorable cryptocurrency policies from the administration of U.S. President Donald Trump.
The world’s largest cryptocurrency surged to a record $117,928.49 at 07:43 GMT, bringing its year-to-date gains to over 24%.
“The all-time high is being driven by relentless institutional accumulation — major players are cornering supply and draining liquidity from exchange markets,” said Joshua Chu, co-chairman of the Web3 Association in Hong Kong, as quoted by Reuters.
In March, President Trump signed an executive order to establish a strategic cryptocurrency reserve. He also appointed several pro-crypto officials, including Securities and Exchange Commission (SEC) Chairman Paul Atkins and White House AI chief David Sacks.
Trump’s family businesses have also ventured into the crypto space. Trump Media & Technology Group is reportedly planning to launch a publicly traded fund to invest in various crypto assets, including Bitcoin, according to a document filed with the SEC on Tuesday.
Ether, the second-largest cryptocurrency, was trading at $2,998.35 at 07:43 GMT after hitting a five-month high of $2,998.41.
Agencies
