Bitcoin gains as Trump reportedly plans crypto executive order

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Bitcoin joined the crypto rally on Friday amid reports that President-elect Donald Trump may issue an executive order making crypto a national priority on the first day of his new term.

The price of the flagship cryptocurrency recently rose more than 4% to $104,792.59, according to Coin Metrics. The broader crypto market, as measured by the CoinDesk 20 Index, rose another 2%, following a 4% increase on Thursday.

Shares of exchange operators Coinbase and Robinhood rose about 5% and 4%, respectively. Small-cap cryptocurrency trading activity benefits trading platforms. Appetite for smaller-cap, higher-risk coins increased ahead of Trump's inauguration, with litecoin surging 26% over the past two days.

The moves follow a Bloomberg report Thursday evening that Trump may create the crypto advisory board he previously promised, giving the industry a voice within his administration. A bitcoin stockpile is part of discussions over a possible executive order that would cover several areas of crypto policy, the New York Times reported the same day.

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Bitcoin Trades Above $100,000 Ahead of Trump Inauguration

The newly heightened expectations come after warnings from Wall Street this month that while the presence of a pro-crypto Congress and the White House in 2025 will certainly support innovation in the industry and asset class , it could take some time before the market feels the impact.

Crypto coins and projects outside of bitcoin arguably have more to gain from clear and supportive policy and regulation, as they have been more targets of SEC lawsuits and alleged banking discrimination under the Biden administration. Some investors, however, say bitcoin could experience a rocket rally if a stock or national reserve is established.

So far this year, Bitcoin is trading closely with stocks. The country has been in consolidation mode since late December, when Federal Reserve Chairman Jerome Powell sounded an inflation alarm that eased this week after two rather cold inflation reports in December. Bitcoin ETFs have seen over $1 billion in inflows over the past two days.

Investors expect any announcements from the new administration next week to send bitcoin potentially to a new record high.

The newly heightened expectations come after warnings from Wall Street this month that while the presence of a pro-crypto Congress and the White House in 2025 will certainly support innovation in the industry and asset class , it could take some time before the market feels the impact.

“The new administration and new SEC chairman open the door to new opportunities for cryptocurrency innovation,” JPMorgan analyst Kenneth Worthington said in a note this week. However, he added, “we do not foresee the next wave of cryptocurrencies.” [exchange-traded product] The launches are considered significant for the crypto ecosystem, given the much lower market capitalization of other tokens and much lower investor interest.

Bitcoin's all-time high is $108,327.01, since December 17. It is up 9% in 2025.

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