Bitcoin surges past $97,000 for the first time amid optimism over Trump’s crypto-friendly policies

The cryptocurrency rose 5.7 percent to trade at approximately $97,445, bringing its market capitalisation to a staggering $1.93 trillion, according to CoinMarketCap data.

The rally positions Bitcoin within striking distance of the $100,000 milestone, with its value more than tripling this year.

Since Trump’s re-election, the broader cryptocurrency market has added nearly $900 billion in value, bolstered by the election of pro-crypto lawmakers and heightened optimism for digital assets. 

Donald Trump has pledged to position the United States as the global leader in cryptocurrency, with plans to establish a national Bitcoin reserve.

His team is reportedly considering the creation of a dedicated White House role focused on cryptocurrency policy.

Industry insiders are lobbying for this position to include direct access to Trump, who has become a vocal advocate for digital assets. 

Trump’s crypto-friendly stance and promises to make the US the “crypto capital of the planet” have significantly bolstered market confidence. 

The positive sentiment has also been driven by MicroStrategy Inc.’s accelerated Bitcoin purchasing strategy and the successful debut of Bitcoin options trading on US-listed ETFs.

BlackRock’s Bitcoin ETF saw strong options activity, with bullish call options outpacing bearish put options, signaling continued investor optimism. 

Since Trump’s election victory, over $4 billion has flowed into US-listed Bitcoin ETFs.

These developments underscore the growing influence of the cryptocurrency sector and its integration into mainstream financial markets. 

With institutional investors fueling demand and regulatory clarity on the horizon, Bitcoin’s upward momentum reflects the increasing prominence of digital assets in global finance.