Trump’s administration is seen to be more friendly towards cryptocurrencies than President Joe Biden’s outgoing administration.
Bitcoin has reached a new record after incoming US President Donald Trump expressed support for digital assets and his plan to make the US a dominant force in the sector.that different factors have contributed to Bitcoin’s new record, with the most recent being Trump’s comments on a potential “strategic” bitcoin reserve.
The factors driving the Bitcoin rally this year include the approval of Bitcoin spot ETFs in January, which sparked positive sentiment that was also enhanced by other events. He added that the market commentators say that investors appear to be rallying behind the prospect of institutional-level support from the US, which further fuels market momentum.
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