Trump’s Crypto Announcement Fuels Bitcoin Surge Amid Speculation

WASHINGTON, D.C. — Bitcoin prices soared to nearly $88,000 on March 20, 2025, following a confirmation of an impending announcement by former President Donald Trump regarding U.S. cryptocurrency policy. The Federal Reserve’s decision to hold interest rates steady also contributed to the optimistic market sentiment.

The surge, which added nearly $10,000 from the previous week’s low, was spurred by a leak indicating Trump would address attendees at the Blockworks Digital Asset Summit via a pre-recorded speech. Eleanor Terrett, who previously worked at Fox Business, stated on X that this would mark the first time a sitting president has addressed an event focused on the cryptocurrency industry.

Details of Trump’s speech are yet to be unveiled. However, Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, indicated that the U.S. aims to acquire as much bitcoin as possible. “It’s high time that our president started accumulating assets for the American people, which is what President Trump is doing rather than taking it away,” Hines asserted, referring to Trump’s recent executive order that restricts the sale of seized bitcoin and other cryptocurrencies.

Earlier this month, the Biden administration updated its strategy regarding digital currency reserves, suggesting plans for a bitcoin-centric strategic reserve alongside a broader crypto stockpile. During a recent White House crypto summit, Trump expressed his commitment to bitcoin, declaring its unique significance among digital currencies.

Trump’s crypto czar, David Sacks, emphasized the U.S. Treasury’s role in maximizing the value of bitcoin within the national reserve. “The crypto stockpile should be subject to good portfolio management, and fortunately, we have a secretary of the Treasury who is an extremely successful former hedge fund manager, so he’s going to figure out the best way to manage these assets,” Sacks mentioned during an appearance on the All In Podcast.

The anticipation surrounding Trump’s announcement has created a buzz among investors, highlighting the speculative nature of the cryptocurrency market. Some analysts suggest that Trump’s potential endorsement of bitcoin could further elevate its status as a leading digital asset and encourage mainstream adoption.

As the market braces for the forthcoming address, traders remain vigilant for further developments that could impact both bitcoin’s price trajectory and the wider cryptocurrency landscape.