The price of Bitcoin soared by 2.5% on Friday after U.S. President Donald Trump signed an executive order on cryptocurrency markets.
The current price of Bitcoin is at around $104,736 as of 0645 GMT, 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 U.S.
“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our nation’s international leadership,” the executive order said.
Establishing a working group, named Working Group on Digital Asset Markets, to examine a national digital asset stockpile was also included in the order.
The order also instructed institutions to make recommendations to the working group on regulations affecting digital asset markets that should be revoked or amended. But it also prohibits institutions from developing or issuing Central Bank Digital Currency (CBDC).
Campaigning for the presidency last year, Trump promised to make the U.S. “the crypto capital of the planet and the Bitcoin superpower of the world.” (Anadolu)