Key points
- Bitcoin price rose to $69,300 today, registering a 3% increase in 24 hours.
- Trump's speech could declare Bitcoin a US reserve asset.
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Bitcoin is on the verge of breaking through the $70,000 mark as anticipation mounts for Donald Trump's upcoming speech at the Bitcoin Conference 2024 in Nashville. According to data According to CoinGecko, earlier today, the price of Bitcoin hit a high of $69,300, reflecting a 3% increase over the past 24 hours.
Trump has already arrived in Nashville, ready to deliver his inaugural address in less than 30 minutes. There is speculation that his speech could include a notable announcement about the role of bitcoin in the US financial strategy.
US presidential candidate Robert F. Kennedy Jr. suggested that Trump could reveal plans to designate Bitcoin as a reserve asset.
“I understand that President Trump may announce tomorrow his plan to authorize the United States government to purchase one million Bitcoins as a strategic reserve asset, and I applaud that announcement,” Kennedy said, speaking at the Bitcoin 2024 conference on Friday.
David Bailey, CEO of BTC Inc., highlighted the Bitcoin community's strong support for Trump, who has shifted from his previously critical view of cryptocurrencies to now accepting donations in them and promoting home Bitcoin mining.
Bitcoin price surpassed $67,000 earlier this week in anticipation of Trump's keynote speech, data from CoinGecko shows.
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