Earlier this week, BlockBeats news reported that Trump’s team is in discussion about creating a new position within the White House dedicated to cryptocurrency policy, bolstering prior reports that the Trump Media Group is in talks to acquire cryptocurrency trading company Bakkt. This news has sparked optimism among industry insiders about the future of the crypto industry under the Trump administration.
In response to these reports, cryptocurrency stocks soared before the market opened, with MicroStrategy rising more than 10%. At press time, Bitcoin is trading at $97,530, nearing the highly anticipated $100,000 milestone. Despite this, Ethereum and altcoins have generally been on the decline, and the futures of the three major US stock indexes are down.
The Dow futures fell 0.15%, with the Nasdaq 100 futures down 0.40% and the S&P 500 futures down 0.29%. The Hong Kong stock market also closed lower on Thursday, with the Hang Seng Index falling 0.53%, the State-owned Enterprises Index down 0.79%, and the Hang Seng Technology Index down 1.24%. Despite the overall market weakness, crypto concept stocks have been active, with Linekong Interactive rising by more than 54%, Boyaa Interactive up nearly 17%, and OSL Group up nearly 2%.
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<p>The post Trump’s Team Plans New Crypto Policy Position Amid Rising Bitcoin Prices first appeared on CoinBuzzFeed.</p>
