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Trump's Crypto-friendly policies lead to record Bitcoin investor demand
The world's largest cryptocurrency rose to a peak of $116,781.10 in the Asian session on Friday, taking its gains for the year so far to more than 24%. It was last trading at $116,563.11.
'Bitcoin's new all-time high is being driven by relentless institutional accumulation - major players are scooping up supply and drying up liquidity on exchanges,' said Joshua Chu, co-chair of the Hong Kong Web3 Association.
In March, Trump signed an executive order to establish a strategic reserve of cryptocurrencies. He has also appointed several crypto-friendly individuals, including Securities and Exchange Commission Chair Paul Atkins and White House artificial intelligence czar David Sacks.
Trump's family businesses have also made forays into cryptocurrencies. Trump Media & Technology Group is looking to launch an exchange-traded fund to invest in multiple crypto tokens, including Bitcoin, an SEC filing on Tuesday showed.
Ether, the world's second-largest cryptocurrency, similarly jumped nearly 5% to $2,956.82, after earlier hitting a five-month high of $2,998.41.
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Pakistan welcomes the historic peace agreement signed between the Republic of Azerbaijan and the Republic of Armenia at the White House Summit under the auspices of U.S. President Donald J. Trump @realDonaldTrump This landmark development marks the dawn of a new era of peace,… — Shehbaz Sharif (@CMShehbaz) August 9, 2025 Trump has tried to present himself as a global peacemaker in the first months of his second term. The White House credits him with brokering a ceasefire between Cambodia and Thailand and sealing peace deals between Rwanda and the Democratic Republic of the Congo, and Pakistan and India. US President Donald Trump and Armenia's Prime Minister Nikol Pashinyan gesture at the White House in Washington, DC, US, August 8, 2025. Photo: Reuters Conflict Armenia and Azerbaijan have been at odds since the late 1980s when Nagorno-Karabakh, a mountainous Azerbaijani region mostly populated by ethnic Armenians, broke away from Azerbaijan with support from Armenia. 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