Bitcoin Surges Past $106K as Trump Set to Discuss Crypto with El Salvador’s Bukele

Bitcoin (BTC) surged beyond $106,000 on Thursday morning in the U.S., following reports that President Donald Trump is scheduled to speak later today with Nayib Bukele, the president of El Salvador, a nation that has been a pioneer in Bitcoin adoption.

Bitcoin saw a rise of over 3% to hit session highs after the news, wiping out earlier losses. It is now up 2.2% over the past 24 hours. The price climb began earlier in the morning after U.S. Senator Cynthia Lummis teased a major announcement via social media, setting expectations for 10:00 a.m. ET, though much of the gains were lost after reports surfaced that the Senate Banking Committee would vote to confirm Lummis as the chair of the new Digital Assets Subcommittee.

The boost in Bitcoin’s price was partly driven by speculation that discussions between Trump and Bukele could touch on Bitcoin regulation and other aspects of the crypto landscape. Under Bukele’s leadership, El Salvador has emerged as a crypto hub, becoming the first country to adopt Bitcoin as legal tender in 2021. Since then, the country has accumulated more than 6,000 BTC, worth about $622 million, as part of its strategic reserve.

During his campaign last year, Trump pledged to make the U.S. a global leader in digital assets and promised to create a national Bitcoin reserve. His administration had previously expressed interest in positioning the country at the forefront of cryptocurrency innovation.

Trump’s conversation with Bukele is scheduled for 3:30 p.m. ET today, potentially offering insights into the future of U.S. crypto policy and its relationship with El Salvador’s crypto-friendly approach.