Bitcoin Price Prediction as Trump Backs ‘Strategic Bitcoin Stockpile’ in Bold Speech – $1 Million BTC Possible?
Bitcoin (BTC), the world’s leading cryptocurrency, has experienced volatility. It struggled to maintain its early-day upward momentum and dipped to $67,624.
Despite hitting an intraday high of $69,000, BTC couldn’t sustain this level due to mixed statements from Trump. His comments, including “Crypto will die if Democrats win,” have created uncertainty, pressuring BTC prices.
However, substantial inflows into BlackRock’s spot Bitcoin ETF indicate strong institutional interest, potentially supporting BTC prices.
Former President Donald Trump has outlined ambitious plans for cryptocurrency if re-elected. He promises to replace SEC Chair Gary Gensler with someone supportive of crypto innovation. Trump aims to establish a national Bitcoin reserve and position the U.S. as a leading center for Bitcoin mining.
He opposes Central Bank Digital Currencies (CBDCs) and plans to commute Ross Ulbricht’s prison sentence. Trump aims to end regulatory actions against crypto and draft supportive regulations through a special committee. His goal is to transform the U.S. into the world’s leading “crypto capital” and a “Bitcoin superpower.”
At the Bitcoin Conference 2024, Trump announced plans to support cryptocurrency, winning over the crypto community. He vowed to end Operation Chokepoint and form a Bitcoin and crypto advisory council. Trump criticized Democrats, claiming their policies would harm crypto, and stressed that crypto is vital for America’s future, comparing it to the importance of the steel industry in the past.
JUST IN:
Read more on cryptonews.com
