Ethereum
Donald Trump Suddenly Sends Bitcoin Price Surging, Boosting Ethereum, XRP, and Cryptocurrencies
Bitcoin
Bitcoin
has suddenly soared toward $70,000 per bitcoin as hype builds ahead Donald Trump’s highly anticipated appearance at Bitcoin 2024 conference.
Bitcoin’s price has surged to over $69,000 from recent lows of $53,000 earlier this month, dragging down broader ethereum, XRP
XRP
and the cryptocurrency market with it.
Trump, who has embraced bitcoin in recent months after making millions from his ethereum-based non-fungible token (NFT) digital trading cards, is scheduled to speak at the Bitcoin 2024 conference at 2 p.m. CT on Saturday.
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Former President Donald Trump is scheduled to speak at the Bitcoin 2024 conference on Saturday, along with… [+] The hype surrounding his speech sent the price of bitcoin and the broader market for ethereum, XRP and cryptocurrencies soaring.
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The hype has intensified since Trump was announced as a speaker at the Bitcoin 2024 conference in Nashville, Tennessee, with conference organizer David Bailey saying it would be “the most important political event in bitcoin history and a defining cultural moment for our society.”
This week, wild rumors have been circulating that Trump might He announced during his speech that he would create a strategic reserve of bitcoins in the United States if he was re-elected president..
Independent presidential candidate Robert F. Kennedy (RFK) Jr. has promised at Bitcoin 2024 to sign an executive order requiring the U.S. Department of Justice and the Marshall Islands to transfer the 204,000 bitcoins held by the United States to the Federal Reserve to be held as a “strategic asset” if he is elected president. RFK Jr. has also said he will also order the Treasury Department to purchase 500 bitcoins per day until the reserve reaches at least four million bitcoins.
The United States would achieve “a dominant position that no other country can usurp” and its bitcoin reserves would eventually reach a value of “hundreds of trillions of dollars,” he said.
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Bitcoin price soared ahead of Donald Trump’s speech at the Bitcoin 2024 conference, spurring… [+] Ethereum, XRP and the broader cryptocurrency market.
Forbes Digital Assets
“A Trump presidency, now most likely, will bring bitcoin and cryptocurrencies back to better highs because he is in favor of these digital assets,” Desmond Marshall, managing director of Hong Kong-based investment advisory firm Rouge International, said in emailed comments, adding that he expects bitcoin’s price to end 2024 at $74,000.
“Bitcoin is now a proxy for a Trump victory,” said Sean McNulty, director of trading at Arbelos Markets. said The news.