Stock Track | Bit Digital Soars 5.48% in Premarket as Trump's Crypto-Friendly Moves Boost Investor Sentiment

Stock Track

01-24

Bit Digital, Inc. (BTBT) shares surged 5.48% in premarket trading on Friday, following an intraday rally in the cryptocurrency market and crypto-related stocks after President Donald Trump signed an executive order on digital assets.

The executive order aimed to establish the U.S. as a leader in digital asset innovation and mainstream adoption of cryptocurrencies. It creates a new working group tasked with proposing regulations for the crypto industry and exploring the creation of a national cryptocurrency stockpile.

The order also directed regulators to protect banking services for crypto companies, alleviating concerns about them being cut off from the financial system. It also banned the development of any central bank digital currency that could compete with existing cryptocurrencies like Bitcoin.

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