Bitcoin Jumps to $98K as Prez Trump’s Son Eric Backs BTC

Bitcoin rapidly jumped past $98,000 connected Thursday aft Eric Trump, the lad of erstwhile U.S. President Donald Trump, expressed his enthusiasm for the cryptocurrency.

At 1:41 UTC, Eric Trump tweeted, “Feels similar a large clip to participate #BTC!” His remark caused BTC’s terms to sprout up from $96,900 to $97,830, with micro CME futures concisely surpassing $98,000, according to TradingView. The terms soon returned to its erstwhile level of astir $97,650, however, a modest hourly summation of 0.4%.

David Sacks, the Trump administration’s AI and crypto adviser, precocious tweeted that they are exploring an enactment of a strategical Bitcoin reserve. This rekindled hopes among immoderate investors, but galore brokers and hedge funds were disillusioned by the lack of a timely response.

Interestingly, Eric Trump has antecedently made headlines successful the crypto market. Earlier this month, an summation successful profits took Ethereum to a crisp sell-off from President Trump’s announcement of tariffs that sent the broader market into a meltdown. By Feb. 3, Ethereum had dropped 37% from its January high, hitting its lowest constituent successful weeks.

Then, connected Feb. 4, Eric Trump tweeted, “It’s a large clip to adhd ETH.” The effect was impressive, Ethereum soared by implicit 35% successful conscionable 18 hours, climbing from $2,300 to implicit $2,900 earlier stabilizing astatine astir $2,830 connected Feb. 6.

Also Read: Bitcoin Price Drops to $92K arsenic Trump Imposes New Tariffs