Trump's Crypto Push Boosts Bitcoin as Clarity Act Support Grows

The U.S. Treasury Department's decision to support more long-duration bonds has provided a positive signal for cryptocurrency-related stocks.

Bitcoin surged 3.48% to $71,505, crossing the $70,000 mark for the first time since June.

Industry analysts say that Trump's show of support for crypto legislation is incrementally positive and suggests the White House is putting more direct pressure on Congress to get the legislation done.