Bitcoin surged to a record high on Friday morning, driven by strong institutional interest and favorable cryptocurrency policies under the administration of U.S. President Donald Trump.
The world’s largest cryptocurrency soared to a peak of $116,781.10 during the Asian trading session, marking a year-to-date gain of over 24%.
The rally comes in the wake of Trump’s executive order in March to create a strategic reserve of cryptocurrencies. His administration has also appointed several crypto-friendly figures, including former SEC Commissioner Paul Atkins and White House AI adviser David Sacks.
Further reflecting the Trump camp’s embrace of digital assets, Trump Media & Technology Group (DJT.O) is reportedly planning to launch an exchange-traded fund (ETF) focused on various cryptocurrencies, including Bitcoin, according to a recent SEC filing.
Ether, the second-largest cryptocurrency, also saw significant gains—rising more than 5% to trade at $2,964.02 after briefly touching a five-month high of $2,998.41.
