NEW YORK, July 11: Bitcoin surged to a fresh all-time high on Friday, driven by growing institutional demand and the crypto-friendly stance of U.S. President Donald Trump’s administration.
The world’s largest cryptocurrency touched a peak of $116,781.10 during the Asian trading session, marking a year-to-date gain of over 24%.
In a major policy move this March, President Trump signed an executive order to create a strategic cryptocurrency reserve. He has also appointed several key figures known for their positive views on digital assets, including former SEC commissioner Paul Atkins and White House AI adviser David Sacks.
Adding to the momentum, Trump’s own business ventures have entered the crypto space. Trump Media & Technology Group (DJT.O) recently filed with the SEC to launch an exchange-traded fund (ETF) focused on a basket of cryptocurrencies, including Bitcoin.
Meanwhile, Ether, the second-largest cryptocurrency by market cap, surged more than 5%, last trading at $2,964.02 after briefly hitting a five-month high of $2,998.41.