Bitcoin Surges to $106K as Trump Prepares to Reach Out to El Salvador’s Pro-Crypto President Bukele.

Bitcoin Hits $106K as Trump to Discuss Crypto Policies with El Salvador’s Bukele

Bitcoin (BTC) surged past $106,000 early Thursday in the U.S., driven by news that U.S. President Donald Trump is set to speak with Nayib Bukele, the president of El Salvador, later today. This news sparked a surge of buying, pushing Bitcoin up over 3% to reach session highs, reversing earlier losses. It is now up 2.2% over the last 24 hours.

The momentum started earlier when U.S. Senator Cynthia Lummis posted on social media, hinting at an important announcement at 10:00 a.m. ET. However, much of the gains were reversed after reports surfaced that the Senate Banking Committee was set to vote on confirming Lummis as the new chair of the Digital Assets Subcommittee.

The price boost comes amid growing speculation that Bitcoin regulation could be a key topic in the meeting between Trump and Bukele. Under Bukele’s leadership, El Salvador has become a global leader in cryptocurrency adoption, becoming the first nation to make Bitcoin legal tender in 2021. The country has also accumulated 6,000 BTC worth $622 million as part of its strategic reserve.

Trump, during his campaign, expressed plans to make the U.S. a global leader in digital assets, including creating a national Bitcoin reserve. This has fueled hopes that a potential collaboration with El Salvador could shape future crypto policies in the U.S.

The conversation between Trump and Bukele is scheduled for 3:30 p.m. ET today, with many anticipating that it could mark a key moment for the future of Bitcoin and the broader cryptocurrency market in the U.S.