Trump's Crypto Endorsement Boosts Bitcoin to Over $65K
President Donald Trump expressed his support for the US crypto industry on Friday, calling it a 'big deal' and warning that China could gain ground if Washington slows digital asset policy.
The comments came as Bitcoin (BTC) surged above $65,000, testing the upper end of its July trading range. Whale buying and spot ETF inflows also supported the move.
Trump emphasized the importance of the US maintaining its lead in digital assets, singling out China and warning that Washington should not allow Beijing to take control of the sector.
The president's comments came as lawmakers struggled to advance the CLARITY Act before the Senate's August recess. The bill seeks to establish federal rules for digital asset trading and define oversight roles for regulators.