BTC price surges past $106.000 amid rumors that Donald Trump may sign an executive order to create the Bitcoin Strategic Reserve and that crypto advocate Senator Cynthia Lummis will be appointed chair of the Digital Assets Committee.
Bitcoin (BTC) is trading above $106.000 on January 23 amid rumors of a possible announcement by President Donald Trump on the creation of a Strategic Bitcoin Reserve in the United States. Additionally, Senator Cynthia Lummis, a well-known cryptocurrency advocate, could be appointed as the chair of the House Digital Assets Committee, which is generating a new wave of optimism in the crypto market.
Bitcoin price rises by 5%
Bitcoin, the world's largest cryptocurrency by market capitalization, has seen a significant rally over the past 24 hours, breaking through the $106.000 per BTC barrier.
According to data from the CoinMarketCap platform, the leading cryptocurrency is starting a new bullish movement, which comes amid growing institutional interest and a flurry of political news that could have a profound impact on the future of cryptocurrencies in the United States.
Source: CoinMarketCap
The platform's chart on the BTC price shows that the cryptocurrency has risen more than 5% in the last 24 hours, going from a quote of $101.200 dollars to $106.400 dollars, at the time of writing this article.
This growth is being driven by investor enthusiasm over rumors of a possible executive order from President Trump, which could usher in the country's long-awaited Bitcoin strategic reserve. If this materializes, the United States could mark a milestone in Bitcoin adoption government level.
Trump's most anticipated executive order
Rumors about an executive order that would establish a Bitcoin Strategic Reserve in the United States have circulated more strongly in recent hours, generating great expectations in the crypto community. Several experts anticipate that President Trump would be considering announcing today the creation of a national Bitcoin fund, similar to gold reserves, as part of a strategy to strengthen the country's position in the global financial landscape.
If this move is confirmed, it could have significant implications for the Bitcoin and cryptocurrency market. Not only would it legitimize BTC as a sovereign reserve asset, but could also further boost its adoption at institutional and governmental levels.
For many, the creation of a strategic Bitcoin reserve could serve as a mechanism of inflation protection and the devaluation of the dollar, themes that have been recurrent in Trump's economic policies.
Cynthia Lummis could lead the Digital Assets Committee
In parallel to the hearsay On Trump's executive order, Senator Cynthia Lummis, one of the most prominent figures in cryptocurrency advocacy in the US Congress, could be named president of the Digital Assets Committee. Lummis, who has been a staunch advocate for financial innovation and pro-crypto regulation, has worked tirelessly to promote a clear and favorable regulatory framework for the industry.
Furthermore, in a recent announcement via X, Lummis hinted that a major cryptocurrency-related development in the country will be revealed today, which has heightened speculation within the crypto community.
Her potential appointment has been greeted with enthusiasm by the crypto community, as Lummis is expected to push for policies that encourage the adoption of Bitcoin and other cryptocurrencies in the United States. In addition, her leadership of the committee could facilitate the creation of a more predictable and secure regulatory environment for investors and companies in the sector.
The combination of these two events has created a climate of optimism in the crypto market. Investors have interpreted this news as a sign that the United States is taking significant steps towards the adoption and regulation of cryptocurrencies.
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