Bitcoin Price Soars Above $41K on Biden’s Crypto Administrative Order Leak

Bitcoin’s price soared in today’s Europe early morning trading session. The cryptocurrency jumped past $41K on a leaked press release containing information on President Biden’s expected administrative order on crypto.

  • BNN Bloomberg reported earlier today that there’s been a press release leaked on The Treasury Department’s website. The statement has since been removed, and a spokesperson declined to comment for Bloomberg. 
  • In any case, the leaked document read that

President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.

  • In addition, the Treasury will be partnering with other agencies to compile a report on the future of payment systems and money, in general.
  • The text was perceived well by the market.
  • Bitcoin’s price soared from slightly below $39,000 to just shy of $42,000 and is currently trading at around $41,700.
  • This entire action also left around $190 million worth of liquidated positions in the past 24 hours, the majority of which are naturally short.

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