Bitcoin (BTC) crossed $106,000 on Thursday morning in the US on reports that US President Donald Trump will speak later today with Nayib Bukele, the president of a bitcoin-friendly nation state El Salvador.
Bitcoin advanced more than 3% to session highs in the minutes following the report, erasing early morning losses. It was up 2.2% over the past 24 hours.
Earlier in the morning, prices began to climb as US Senator Cynthia Lummis posted on social media to “keep an eye on it for 10:00 am” Eastern Time, just to make the most of the gains. back after reports that the Senate Banking Committee would vote to confirm Lummis. as chairman of the panel's new digital assets subcommittee.
There was speculation that bitcoin and crypto regulation could be among the points of discussion between the two leaders. El Salvador has become a major crypto hub under Bukele's leadership. It was the first nation state to accept BTC as legal tender in 2021 and accumulated over 6,000 BTC worth $622 million as a strategic reserve.
Trump said last year on the campaign trail that, if elected, he aims to position the US as a global leader in the digital asset space. He also made several crypto-specific promises including the creation of a national stockpile, or strategic reserve, of bitcoin.
He will speak with Bukele at 3:30 PM ET.
Source: https://www.coindesk.com/markets/2025/01/23/bitcoin-rises-to-usd106k-as-trump-slated-to-call-bukele-el-salvador-s-crypto-friendly- president
