Bitcoin gains as Trump reportedly plans crypto executive order

Bitcoin joined the crypto rally on Friday amid reports that the president-elect Donald Trump he could release an executive order that makes encryption a national priority as soon as day 1 of his new mandate.

The price of the flagship cryptocurrency was higher by more than 4% to $104,792.59, according to Coin Metrics. The broader crypto market, as measured by the CoinDesk 20 the index, was another 2%, after an increase of 4% on Thursday.

Actions of exchange operators Coinbase and robinhood advanced about 5% and 4%, respectively. Small cap crypto trading activity benefits from trading platforms. Appetite for smaller-stage, higher-risk coins grew ahead of Trump’s inauguration, with litecoin up 26% in the last two days.

The moves follow a Bloomberg report late Thursday that Trump could create the crypto advisory council he previously promised, giving the industry a voice in his administration. A bitcoin stockpile is part of discussions about a possible executive order covering several areas of crypto policy, The New York Times reported the same day.

The newly increased expectations come after warnings from Wall Street this month that even if having a pro-crypto Congress and the White House in 2025 is sure to be supportive for innovation in the industry and the asset class, it could take a while before the market feels the impact.

Cryptocurrencies and projects outside of bitcoin are undoubtedly to gain more from a clear and supportive policy and regulation, since they have been more of a target of SEC proceedings and alleged banking discrimination under the Biden administration. Some investors say that bitcoin could see a rocket ship rally, however, if a reserve or national reserve is established.

So far this year, Bitcoin has been trading close to stocks. It has been in consolidation mode since late December, when Federal Reserve Chairman Jerome Powell sounded an inflation alarm tapering off this week after two December inflation reports. Bitcoin ETFs have seen over $1 billion in inflows over the past two days.

Investors are waiting for any announcement from the incoming administration next week to send bitcoin higher – potentially to a new record.

The newly increased expectations come after warnings from Wall Street this month that even if having a pro-crypto Congress and the White House in 2025 is sure to be supportive for innovation in the industry and the asset class, it could take a while before the market feels the impact.

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

Bitcoin’s record is $108,327.01, as of December 17. It is 9% in 2025.