Bitcoin surges as Trump plans Crypto Executive Order

The price of the flagship cryptocurrency rose more than 4%, reaching $104,672.37, according to Coin Metrics. Meanwhile, the broader crypto market, as measured by the CoinDesk 20 index, climbed another 3% after gaining 4% on Thursday.

These moves follow a Bloomberg report on Thursday that Trump may establish the crypto advisory council he previously proposed, giving the industry a voice within his administration. Discussions surrounding a potential executive order reportedly include the creation of a national Bitcoin stockpile, according to the New York Times.

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What does the future hold for Bitcoin under Trump’s term?

Recent optimism comes after Wall Street warnings earlier this month. Analysts noted that while having a pro-crypto Congress and White House in 2025 could support innovation within the industry, it might take time for the market to feel the effects.

Bitcoin’s price has closely followed stock market trends this year. It has been consolidating since last December, when Federal Reserve Chair, Jerome Powell, raised concerns about inflation, concerns that eased this week after two favorable inflation reports. Bitcoin ETFs have also seen over $1 billion in inflows over the last two days.

Investor expectations for Bitcoin under the new administration

Investors anticipate that any major announcements from the incoming administration next week could drive Bitcoin to new record highs.

“The new administration and a new SEC chairman open the door to fresh opportunities for cryptocurrency innovation,” JPMorgan analyst Kenneth Worthington noted in a report this week. However, he cautioned, “We don’t see the next wave of cryptocurrency exchange-traded product launches significantly impacting the ecosystem, given the smaller market capitalization of other tokens and lower investor interest.”

Bitcoin’s all-time high of $108,327.01, recorded in December 2017, remains within reach. The cryptocurrency is up more than 11% so far in 2025.