Bitcoin has recently seen a surge, climbing to the $99K level following a buy recommendation from Eric Trump, son of former President Donald Trump. Despite Bitcoin’s struggle to stay above the $100K mark, the cryptocurrency experienced a notable uptick after Eric Trump tweeted about the current opportunity to invest in Bitcoin, pushing the price back to nearly $99K.

As of the latest data, Bitcoin is trading at $98,980, showing a 1% increase in the last 24 hours. However, the cryptocurrency has been underperforming recently, with a 6.68% drop over the past week. Despite this, Eric Trump’s tweet suggesting now is a good time to buy Bitcoin helped bring some optimism back to the market. His tweet referred to the current moment as an ideal time to “enter BTC,” signaling a potential opportunity for investors to increase their holdings. Eric Trump hinted that the acquisitions could be made through World Liberty Financial, a decentralized finance (DeFi) platform inspired by his father’s name.

This endorsement from Eric Trump caught the attention of MicroStrategy’s chairman, Michael Saylor, who has been a long-time advocate for Bitcoin. In response to Trump’s tweet, Saylor reinforced his belief in the cryptocurrency, commenting, “No ₿etter Time,” which further boosted the market sentiment. Notably, after a prolonged 12-week buying spree, MicroStrategy paused its weekly Bitcoin purchases.

Earlier in the month, Eric Trump met with Michael Saylor at Mar-a-Lago, Donald Trump’s private estate, fueling speculation that Bitcoin might have been one of the key topics discussed during their meeting. While no concrete details were provided by either side about the content of their conversation, it’s clear that Bitcoin was central to their discussions.

Beyond Bitcoin, Eric Trump has also shown support for Ethereum, urging his followers to consider investing in the asset during a time when ETH was experiencing a significant dip in price. He encouraged his audience to view the low price as an opportunity, and World Liberty Financial (WLFI) has been accumulating Ethereum in anticipation of price gains in the future.

However, his support for Ethereum has drawn some criticism from Bitcoin advocates, including Max Keiser, an advisor to the government of El Salvador. Keiser highlighted concerns about Ethereum’s past regulatory scrutiny, particularly its issues with the U.S. Securities and Exchange Commission (SEC). This back-and-forth highlights the ongoing debate within the crypto community about the future potential of Bitcoin and Ethereum.

Additionally, David Sacks, a key advisor in the Trump administration on both artificial intelligence (AI) and crypto policy, has confirmed ongoing discussions about the possibility of establishing a Bitcoin reserve. Though still in the early stages of evaluation, these discussions point to a potential future where Bitcoin could play a larger role within the U.S. financial system. This initiative aligns with the Bitcoin Policy Institute’s proposal, which advocates for Bitcoin’s inclusion in the U.S. Treasury’s Exchange Stabilization Fund.

As Bitcoin stabilizes above $96K, there is growing optimism about its potential breakout. With the backing of influential figures like Eric Trump and Michael Saylor, Bitcoin continues to garner institutional support. Investors are keenly watching Bitcoin’s resistance levels to see if it can break the $100K threshold and continue its upward momentum in the coming weeks. The support from major figures in the crypto world only strengthens the growing sentiment that Bitcoin could reach new highs in the near future.