The price of Bitcoin (BTC-USD) is heading higher on Wednesday as crypto traders react to a recent Executive Order (EO) from President Joe Biden.
The short of it is that President Biden signed the EO today and it outlines how the U.S. Government will handle crypto. The news didn’t seem to be as bad as some feared with BTC rising higher in response to its release.
Rather than placing strict regulations on Bitcoin and other cryptos, the EO seems lax in nature. Sure, extra restrictions are coming into play, but nothing so bad as to rattle crypto investors. You can learn more about that EO at this link!
In fact, we started to see an increase in crypto last night after Treasury Secretary Janet Yellen accidentally leaked her response to Biden’s EO early. That response got pulled, but not before spreading online for investors to see.
The most recent crypto news ended up sending the price of BTC beyond $40,000. That’s a level that the crypto has had trouble staying above since the crash digital assets experienced earlier this year.
What crypto traders are really hoping for is a continued rise in price for BTC. The crypto previously reached an all-time high of $69,000 back in November. However, it’s been slipping since then as it struggles to climb back to that value.
BTC is up 10.2% over a 24-hour period as of Wednesday morning.
There’s more crypto news that traders are going to want to know about for Wednesday below!
We’ve got all the hottest crypto news for today with our daily coverage of the space! Among that is what to expect from Ethereum (ETH-USD), more details on the Biden crypto EO, as well as cheap crypto to consider before a boom. You can find all of that news at the links below!
More Crypto News for Wednesday
- Ethereum Is Poised for a Major Comeback When Geopolitical Tensions Abate
- Biden’s Crypto Executive Order Is Finally Here. 8 Things to Know.
- 7 Undervalued Cryptos to Buy Before They Boom Upward
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
