Bitcoin surges after Biden signs executive order on digital assets

Bitcoin prices jumped after president Joe Biden of the U.S signed an executive order that requires the government there and agencies to assess, benefits, and risks of creating a central bank. Digital dollar and other cryptocurrency issues were also going to be discussed executive order potentially expands adoption of virtual currencies in u.s financial system.

Biden's order will require the treasury department, commerce department, and other key agencies to prepare reports on the future of money, and the role of cryptocurrency that will be played.

[caption id="attachment_15" align="aligncenter" width="449"] Bitcoin surges after Biden signs executive order on digital assets[/caption]

The white house last year said, it was considering wide-ranging oversight of the cryptocurrency market. This includes an executive order to deal with the growing threat of ransomware and other cybercrime.

U.S exchange-traded funds ETFs tracking bitcoin futures that gained regulatory approval late last year also jumped. U.S crypto miners that act as a proxy for moves in digital coins also advanced. Ride blockchain was up 11.9%, marathon digital holdings were 14.6% while crypto exchange coinbase global was up around 9%.