Significant Price Surge Amid Trump Family Support
Bitcoin (BTC) has seen a notable increase, surpassing the $98,000 mark during the Asian trading hours on Thursday. This surge follows encouragement from Eric Trump, the son of former U.S. President Donald Trump, who advocated for the family-backed crypto platform, World Liberty Financial, to invest in Bitcoin.
Eric Trump’s Influence on Bitcoin Prices
In a post shared on social media platform X around 1:41 UTC, Eric Trump stated, “It feels like a great time to enter BTC, @worldlibertyfi.” Following his endorsement, Bitcoin’s price jumped from approximately $96,900 to around $97,830. According to TradingView, the micro CME futures for Bitcoin even exceeded $98,000 during this trading session.
Government Insights into Bitcoin Strategy
Earlier this week, David Sacks, who serves as the Trump administration’s AI and crypto advisor, revealed that the administration is currently assessing the possibility of establishing a strategic Bitcoin reserve. This announcement has led to mixed reactions among crypto investors, many of whom were hoping for a more immediate and decisive move regarding Bitcoin investments.
The Market’s Response and Future Outlook
The boost in Bitcoin’s value following Eric Trump’s comments and the ongoing discussions within the administration reflect a growing interest in cryptocurrency among influential figures. As the market continues to evolve, the potential for strategic investments in Bitcoin may further enhance its position in the financial landscape.
With these developments, investors and enthusiasts will be closely monitoring both the market trends and the Trump administration’s decisions regarding cryptocurrency, particularly Bitcoin, in the coming weeks.
