Bitcoin has reached a value of over $100,000 for the first time in three months, as reported by Rks News.
According to Bloomberg News, this increase was driven by expectations of easing tensions related to global tariffs following a new trade agreement.
On Thursday, President Trump announced a trade deal with the British government. The cryptocurrency sector had supported Trump during his campaign and has continued to enjoy support from the president since taking office, despite some early obstacles.
Bitcoin’s price hit a record of $109,000 in January, during the inauguration of U.S. President Donald Trump. However, the price then dropped by 30% after Trump’s tariffs caused a market decline.
“This is an indicator of strong demand for digital assets in the industry, especially for Bitcoin,” said Cosmo Jiang from Pantera Capital to Bloomberg, adding that “there are more and more buyers out there.”
At the same time, the Trump family’s involvement in the cryptocurrency world has raised concerns among Democrats, who warn that these businesses could create a conflict of interest.
Meanwhile, the Senate was poised to vote on the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) on Thursday, which outlines a comprehensive set of standards for the issuance, support, and operation of payment stablecoins.
