Bitcoin (BTC) Rises to $106K as Donald Trump Set to Call El Salvador’s Nayib Bukele
Bitcoin (BTC) surpassed $106,000 on Thursday morning in the US on reports that US President Donald Trump will talk later today with Nayib Bukele, president of the bitcoin-friendly nation state El Salvador.
Bitcoin advanced more than 3% at session highs in the minutes after the report, erasing morning losses. It is up 2.2% in the last 24 hours.
Earlier this morning, prices began to rise as US Senator Cynthia Lummis posted on social media “stay tuned for 10:00 am” Eastern Time, just for returned most of the gains came after reports that the Senate Banking Committee would vote to confirm Lummis as a seat of the panel’s new digital assets subcommittee.
Fueling the gains is speculation that bitcoin and crypto regulation could be among the talking points between the two leaders. El Salvador has become a nascent crypto hub under Bukele’s leadership. It was the first nation state to adopt 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.
