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Bitcoin Price Surges as Trump Considers Making Bitcoin a Strategic Asset for the US

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6 months ago

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Bitcoin {{BTC}} price volatility has exploded as former US President Donald Trump’s speech says at Bitcoin 2024 in Nashville.

Trump has unveiled his plan to create a “strategic national stockpile of bitcoin” if elected, which is in line with the market expectations heading towards the speech.

Ahead of Trump’s comments, the digital asset topped $69,000 on Saturday. The price fell as low as $66,700 before recovering above $68,000, according to data from CoinGecko, as traders digested the speech. The broader stock index, CoinDesk20followed the same pattern.

Nearly $24 million Long positions, or bets on higher prices, were liquidated during the speech, which may have contributed to the price decline.

Learn more: Trump Says Democrats Win Election Would Be Disaster for Cryptocurrency: ‘Every One of You Will Disappear’

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