Bitcoin Edges Near $98K as Eric Trump Pushes World Liberty Financial to Make Bitcoin Investment

Key Points

  • Eric Trump encouraged investment in Bitcoin (BTC) on the family-backed crypto platform, World Liberty Fi.
  • Following Eric Trump's post, Bitcoin prices rose from $96,900 to $97,830, with micro CME futures reaching above $98,000.
  • The Trump administration is evaluating the feasibility of a strategic bitcoin reserve, as mentioned by David Sacks.

Summary

Bitcoin (BTC) experienced a notable surge, surpassing $98,000 during Asian trading hours on Thursday, following a post by Eric Trump on X (formerly Twitter). Eric Trump, son of U.S. President Donald Trump, suggested that it was a good time to invest in Bitcoin through the family-backed crypto platform, World Liberty Fi. His post at 1:41 UTC led to an immediate increase in Bitcoin's price from $96,900 to $97,830, with micro CME futures briefly topping the $98,000 mark. This comes amidst discussions within the Trump administration about the potential establishment of a strategic bitcoin reserve, as hinted by David Sacks, the administration's AI and crypto czar. However, the lack of swift action on this issue has left some crypto investors disappointed.

coindesk
February 6, 2025
Crypto
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