Bitcoin (BTC-USD) saw a slight uptick after President Donald Trump reaffirmed his commitment to making the U.S. a leader in cryptocurrency and financial technology. Speaking in a prerecorded message at the Digital Asset Summit in New York, Trump pledged to end regulatory uncertainty and seek congressional approval for stablecoin and market structure legislation.

The president also terminated Operation Chokepoint 2.0, a regulatory push that crypto advocates say stifled industry growth under the previous administration. Trump called the initiative lawless and emphasized the need for simple, common-sense rules for digital assets.

Following Trump’s comments, Bitcoin rose 0.51% to $85,177.4 at 11:36 AM ET, according to Investing.com. The cryptocurrency initially dipped as his message began but quickly rebounded.

Earlier this month, Trump also signed an executive order establishing a national strategic Bitcoin reserve, signaling a policy shift toward greater integration of digital assets into the U.S. economy.

Investors are now watching how Congress responds to the proposed crypto-friendly legislation and its potential impact on broader market regulation.

It is important to note that BTC has lost more than 11.2% of its value YTD and around 11.5% over the past three months. However, the past five days it has been ticking in the green rising over 4% in value.

This article first appeared on GuruFocus.