Bitcoin's price movement today has been significantly influenced by Eric Trump's endorsement of the cryptocurrency. Early Thursday, Eric Trump took to X, formerly known as Twitter, to express his support for Bitcoin investment, stating, "[It] feels like a great time to enter BTC." This endorsement led to a notable increase in Bitcoin's price, as it surged from $96,900 to $97,830 shortly after his post. The market's positive reaction to Trump's comments highlights the impact of influential figures on cryptocurrency sentiment and trading behavior.
Additionally, MicroStrategy's rebranding to 'Strategy' and its continued commitment to Bitcoin accumulation have also played a role in today's market dynamics. Despite reporting a substantial $670 million impairment loss in Q4, the company remains steadfast in its Bitcoin strategy, having recently acquired a significant amount of BTC. This ongoing accumulation by a major corporate player underscores the long-term bullish sentiment surrounding Bitcoin, even amid short-term financial setbacks.
Bitcoin's price has seen a 1.15% increase today, reaching $97,662.44, with a high of $97,811.48.