Markets
Trump’s speech caused enormous volatility
The price of Bitcoin has been on a rollercoaster ride over the past two hours, largely due to the anticipation and subsequent speech by former US President and current presidential candidate Donald Trump at Bitcoin 2024 in Nashville.
The price initially fell below $67,000, after a daily high of over $69,000 before the speech.
After Trump’s speech ended, the price started to rise again, coinciding with some important statements he made.
He promised that if elected, he would immediately end the Biden administration’s “war” on cryptocurrencies. He also promised to fire the chairman of the U.S. Securities and Exchange Commission, Gary Gensler, on day one. This was met with much applause from the audience.
Donald Trump also said that he will ensure that cryptocurrency regulations in the country are written and instituted by people who know the industry, and also pledged to ensure that the United States keeps every bitcoin acquired, ultimately reinforcing the slogan:
“Never sell your Bitcoin.”
Among other things, he also said that he will try to turn the United States into the cryptocurrency capital of the world.