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Bitcoin (BTC) Hits Six-Week High on Trump’s Pro-Crypto Speech
Bitcoin retreated from a six-week high as traders shifted their attention to speculation that the U.S. could sell seized tokens, just days after Donald Trump vowed to create a government reserve of the cryptocurrency if elected president again.
The United States moved $2 billion in Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a send on the social media platform X. Market analysis firms have speculated that the tokens originated from the Silk Road marketplace, where customers used virtual currencies to purchase illegal drugs and hacking tools before it was shut down.