Bitcoin’s value surged after US President Donald Trump’s administration announced plans to establish a crypto task force at the Securities and Exchange Commission (SEC). The new team will focus on developing clear regulations for digital assets.
The price of Bitcoin rose 3% in the last 24 hours, reaching $107,000. This is close to its Monday high of $109,000. Investors had hoped that Trump’s administration would introduce crypto-specific policies, such as designating cryptocurrency a national priority or creating a strategic Bitcoin reserve.
However, some experts, like Matthew Sigel from VanEck, note that the lack of clear guidelines and regulations may lead to uncertainty and volatility in the market. The previous Biden-era policy emphasized legal enforcement, including an executive order encouraging ongoing scrutiny of digital assets.
While speculation surrounds Trump’s future actions on crypto, investors await more news and policy changes. These could include designating crypto a national priority or preventing government sales of Bitcoin acquired from criminal enterprises.
Source: https://fortune.com/crypto/2025/01/21/bitcoin-price-fluctuates-trump-inauguration-first-week-crypto-policy-change