Why Bitcoin Is Up Today
Key Points
Bitcoin gained 6.0% in the 24 hours through 3:14 p.m. ET on Aug. 21, 2026, following the president's Aug. 19 sit-down with industry executives and regulators.
Trump urged Congress to advance the Clarity Act, the crypto industry's priority bill, which remains stalled in the Senate as of Aug. 21, 2026.
Both market regulators are taking action: the SEC proposed crypto rule changes on Aug. 18, and the CFTC said Aug. 20 it would build a crypto framework under existing authority if the bill never passes.
- 10 stocks we like better than Bitcoin ›
Bitcoin (CRYPTO: BTC) is up 6% in the last 24 hours as of 3:14 p.m. ET on Aug. 21, 2026, extending a rally that began with President Trump's Aug. 19 meeting with cryptocurrency executives at the White House.
The S&P 500 and Nasdaq Composite are both up 0.4% in Friday's trading.
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Trump pushed Congress to move the Clarity Act after meeting crypto executives on Aug. 19
On Wednesday, President Trump and leaders from the crypto industry met at the White House. Executives from companies like Coinbase and Ripple, the company behind XRP, joined by the heads of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), discussed the future of digital assets.
After the meeting, flanked by members of the group, Trump told reporters that Congress should "take the next step" in passing a key bill for the industry, the Clarity Act. The legislation is currently stalled in the Senate.
The SEC and CFTC say they'll do what they can without Congress
Despite this, the SEC and the CFTC appear interested in doing what they can without Congress. On Tuesday, the SEC proposed several rule changes that it says would provide "clarity for crypto markets," while on Thursday, the CFTC said it will use its "existing authorities to begin establishing a regime for crypto asset markets" if the Clarity Act isn't passed.
Image source: Getty Images.
Is Bitcoin worth buying after its 6% day?
I'm somewhat skeptical of the more bullish calls around Bitcoin, but I still think at this point it's worth owning as a smaller part of a well-diversified portfolio.
Should you buy stock in Bitcoin right now?
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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
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