Cryptos Were Left Out of President Trump's Speech. Why Bitcoin Is Rising Anyway. — Barrons.com
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By Alex Kozul-Wright
The price of Bitcoin rose early Wednesday, despite being left out of President Donald Trump's State of the Union address.
Bitcoin rose by 2.6% to $65,050 over the past 24 hours, according to CoinDesk data. Other major cryptocurrencies also got a boost.
Ethereum, the world's second biggest cryptocurrency, increased by 3.3%, while popular alt-coin XRP edged up 2.4%
Crypto-related stocks also benefited from the updraught. Strategy — the largest corporate holder of Bitcoin — was up by 0.2%.
Bitcoin's price surge came slightly ahead of President Donald Trump's State of the Union address, at 21:00 Eastern time.
But Trump — widely viewed as a pro-crypto President — didn't mention digital assets according to a transcript of his address. After his speech, Bitcoin shook off some of its earlier price gains.
Digital asset prices have exhibited pronounced volatility since Trump returned to the White House last year.
"We're never more than one tweet away [from steep price changes]," Dmitry Tokarev, founder of security platform Bron, told Barron's on Tuesday in an interview.
Bitcoin "is still a risk asset," he said, adding that: " It's tough predicting what the Trump administration is going to do... and what risk assets are doing in relation to that."
In the near term, volatility is likely to remain a defining characteristic of digital asset markets.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260225002385:0/