Bitcoin prices skyrocketed to a new 2025 high, surpassing the $105,000 threshold on Friday, as investors anticipate potential policy changes from President-elect Donald Trump.
Trump’s campaign promises included establishing America as a global crypto leader and setting up a national bitcoin stockpile. The president-elect is reportedly preparing an executive order to declare digital assets a policy priority and set up an advisory council with industry insiders.
XRP, the third-largest cryptocurrency, saw a 40% surge this week, reaching a record $3.4, driven by optimism about Trump’s administration adopting friendlier crypto policies. Ripple CEO Brad Garlinghouse recently met with Trump at Mar-a-Lago, advocating for a federal stockpile of cryptocurrencies.
Coinbase also introduced bitcoin-backed loans, allowing US customers (except those in New York) to borrow up to $100,000 worth of stablecoins through its Morpho lending protocol. This new service is an expansion of the company’s previous Borrow program, which was shelved in 2023 for retail clients.
The crypto industry is celebrating Trump’s election with a “Crypto Ball” event in Washington D.C., signaling a strong influence on Capitol Hill. With a more crypto-friendly SEC chair expected to take helm, some experts view this as a partial win for the industry.
Source: https://www.forbes.com/sites/digital-assets/2025/01/20/bitcoin-surges-ahead-of-inauguration-xrp-hits-record-high