Why Is Bitcoin Up Today?
Key Points
Bitcoin gained 5.5% by 3:07 p.m. ET on Aug. 19, 2026, as President Trump hosted executives from Coinbase Global, Payward, and Blockchain.com at the White House.
SEC Chair Paul Atkins, CFTC Chair Mike Selig, and White House crypto advisor Patrick Witt are also at the meeting, one day after the SEC proposed a rule change favorable to the industry.
Bitcoin (CRYPTO: BTC) is soaring today, up 5.5% as of 3:07 p.m. ET on Aug. 19, 2026, as President Donald Trump and crypto-industry executives meet at the White House.
The S&P 500 and Nasdaq Composite were up 0.3% and 0.2%, respectively, on Wednesday.
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Coinbase, Payward, and Blockchain.com executives are meeting with Trump and top regulators
Trump is meeting crypto executives at the White House on Wednesday afternoon. The group, which features executives from Coinbase Global, Payward, and Blockchain.com, will also meet with key regulators and White House staff, including Securities and Exchange Commission (SEC) Chair Paul Atkins, Commodity Futures Trading Commission (CFTC) Chair Mike Selig, and White House crypto advisor Patrick Witt.
The Clarity Act is stalled in the Senate, but the SEC and CFTC can act without Congress
Investors are hoping the meeting will lead to movement from Congress. The Clarity Act, which would provide a legal framework for the crypto market, is stalled in the Senate. Whether that comes to pass is very much an open question.
Image source: Getty Images.
Still, there is a lot the executive branch can do on its own. Just yesterday, the SEC proposed a rule change favorable to the industry. Something similar could come out of tomorrow's CFTC meeting.
Regardless, I think Bitcoin is worth owning, but as a reasonably small part of a diversified portfolio.
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.