Bitcoin (BTC) rose above $98,000 during Thursday's Asian trading hours after Eric Trump, son of U.S. President Donald Trump, encouraged the family backed crypto platform to invest in bitcoin (BTC).

"[It] feels like a great time to enter BTC, @worldlibertyfi " Eric Trump posted on X at 1:41 UTC, following which, BTC prices rose from $96,900 to $97,830. The micro CME futures topped the $98,000 mark, according to data source TradingView.

Early this week, Trump's AI and crypto czar David Sacks said the Trump administration is evaluating the feasibility of a strategic bitcoin reserve, disappointing crypto investors anticipating a swift action on the issue.