BTC/USD: Bitcoin Zeros In on $70,000 as Trump Vows to Make US “Crypto Capital” of Planet

“Never sell your Bitcoin,” said former President as he headlined the biggest Bitcoin conference of the year.

• The price of Bitcoin BTCUSD soared to levels of just under $70,000 per coin over the weekend and remained just under the milestone Monday morning as crypto enthusiasts piled their long bets inspired by a speech from Donald Trump. The former US President headlined the biggest annual event in the crypto industry — Bitcoin 2024 — and didn’t miss the opportunity to hype his audience. The OG token rose to $69,900 to start the trading week, up 6% from a Friday opening of $65,000 a pop.
• “For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin,” Trump said. Further, he vowed to fire the Securities and Exchange Commission chairman Gary Gensler, whose approach to crypto has been hindering broader adoption and innovation. “The rules will be written by people who love your industry, not hate your industry,” Trump said.
• “This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world and we’ll get it done,” Trump said. As recently as 2021, Trump slammed Bitcoin saying it “just seems like a scam.” On the other hand, conference organizers said they invited Vice President Kamala Harris to speak at the event, but she declined to attend.