Bitcoin (BTC-USD) prices surged nearly to $70,000 following Donald Trump’s speech at the Bitcoin 2024 conference. Trump, who pledged to “never sell” the U.S. government’s seized Bitcoin, proposed creating a “strategic national bitcoin reserve” to keep up with global competitors. “If we don’t do it, China will do it,” Trump warned.
Trump likened the current state of crypto to “the steel industry of 100 years ago,” suggesting that digital assets are still in their early stages and could eventually “overtake gold.” He also issued a stern warning about the impact of a Democratic victory in the upcoming election, labeling it a “disaster for crypto.”
The speech energized crypto enthusiasts, especially when Trump promised to fire Gary Gensler, the SEC Chair, if elected, drawing loud applause from the crowd. “I didn’t know he was that unpopular,” Trump quipped, highlighting the friction between his vision and current regulations, according to TechCrunch.
What Is BTC’s Price?
This announcement has not only driven Bitcoin prices up but also intensified the debate over digital assets’ future.
At the time of writing, BTC is sitting at $69,878.51.
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