Bitcoin Hits 2025 High as Trump Administration Eyes Crypto Policy Shift

NEW YORK — Bitcoin surged to a 2025 high on Friday, climbing over 4% to $104,672.37 amid speculation that President-elect Donald Trump could soon issue an executive order prioritizing cryptocurrency as a national policy focus. The broader crypto market also gained, with the index rising 3% following a 4% increase on Thursday.

Shares of major exchange operators advanced more than 4% each, driven by heightened trading activity in smaller-cap cryptocurrencies. This trend reflects growing investor appetite for riskier digital assets ahead of Trump’s inauguration, with some coins surging as much as 30% in the past two days.

The rally follows a Bloomberg report late Thursday suggesting Trump may establish a crypto advisory council, fulfilling a campaign promise to give the industry a voice in his administration. The New York Times also reported discussions about a potential executive order that could include creating a national bitcoin stockpile.

Wall Street analysts have cautioned that while a pro-crypto Congress and White House in 2025 bodes well for industry innovation, the market may not feel the impact immediately. “The new administration and a new SEC chairman opens the door for new opportunity in cryptocurrency innovation,” said JPMorgan analyst Kenneth Worthington. However, he added, “we don’t see a next wave of cryptocurrency [exchange-traded product] launches as being meaningful for the crypto ecosystem given much smaller market capitalization of other tokens and far lower investor interest.”

Bitcoin has been trading in tandem with stocks this year, consolidating since late December when Federal Reserve Chair Jerome Powell raised inflation concerns. Those fears eased this week after two cooler-than-expected December inflation reports. Bitcoin ETFs have seen over $1 billion in inflows in the past two days, signaling strong investor confidence.

Investors anticipate that any announcements from the incoming administration next week could propel bitcoin to new record highs. Bitcoin’s all-time high stands at $108,327.01, set on Dec. 17, 2025. The cryptocurrency is up more than 11% year-to-date.