Bitcoin (BTC) also in Trump Accounts... Robinhood (HOOD) surges 13%

▲ Donald Trump, Bitcoin (BTC), Robinhood (HOOD)/AI generated image

Robinhood (HOOD) rose by over 2%, contrary to the crypto market downturn, driven by the official launch of the U.S. government's 'Trump Accounts'. With U.S. President Donald Trump himself ringing the opening bells of Nasdaq and the New York Stock Exchange, the possibility of Bitcoin (BTC) inclusion was not ruled out.

According to crypto media outlet Coingape on July 6 (local time), the Trump Accounts officially began operating on Robinhood. The White House held a launch ceremony, and President Trump rang the opening bells of Nasdaq and the New York Stock Exchange. Robinhood and BNY Mellon are official partners for the U.S. Treasury Department's Trump Accounts program.

The Trump Accounts program starts by providing children born between 2025 and 2028 with an initial government fund of $1,000. Michael Dell and Susan Dell have also funded the program, with Dell reiterating his donation of $6.25 billion at the White House event. With the program gaining momentum for the 250th anniversary of the United States' founding, HOOD rose over 2%, and its cumulative increase over the past five days exceeded 13%.

However, there was also opposition. Economist Peter Schiff criticized on X (formerly Twitter) that the $1,000 provided by the federal government comes from additional debt issuance. Schiff stated, "The children receiving the money will also inherit the debt," adding, "It would be much better to cut government spending."

Cryptocurrencies are not yet officially included in the Trump Accounts. However, when asked about the possibility of Bitcoin inclusion, President Trump replied, "Something could happen." He then reiterated his stance as a cryptocurrency supporter and reaffirmed his goal of making the U.S. the world's crypto capital.

The official launch of the Trump Accounts and Robinhood's participation in the government program led to HOOD's rise despite the bearish cryptocurrency market. The inclusion of cryptocurrencies in the program is not yet confirmed, and President Trump has not entirely ruled out the possibility of including Bitcoin.

[Article Key Summary]

-With the official launch of Trump Accounts on Robinhood, HOOD rose over 2%, and its cumulative increase over the past five days exceeded 13%.

-The Trump Accounts program provides an initial $1,000 from the government to children born between 2025 and 2028.

-When asked about the possibility of Bitcoin inclusion in the Trump Accounts, President Trump replied, "Something could happen."

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*