|
Blockchain & Cryptocurrency
|
Bitcoin Price Surge Amid US Government's Bitcoin Initiatives ...
2024-07-29 23:55:07
Politics
Government
Finance

Bitcoin Price Surge Amid US Government's Bitcoin Initiatives and Political Support

Image used under license from Shutterstock.com

Political endorsements, US government's potential investment, and bullish predictions boost Bitcoin's price, with Trump advocating a BTC national stockpile. Analysts foresee BTC hitting $813,054 if Trump secures a second term.

Senator Lummis proposes a 1 million BTC federal reserve. Despite a 4.5% dip post-government wallet transfer, rising interest in Bitcoin ETFs and market optimism prevail.

Volatility stems from US dollar strength, upcoming economic data, and profit-taking trends. The industry awaits more details on the US Bitcoin reserve plan, amidst uncertainties and support from industry leaders.

Bitcoin's surge to all-time highs reflects the shifting political and traditional finance landscape, with the potential for future highs amidst market corrections and liquidations.

Related news on that topic:

Bitcoin Nashville Conference: Trump's Speech, Security Measures, ... Musk's Attendance

The Bitcoin Nashville conference last week brought together a diverse range of visuals and experiences, from orange-themed gala events to panel discussions on Bitcoin DeFi. The highlight of the conference was former President Donald Trump's pro-crypto speech, which attracted heightened security measures due to a recent assassination attempt. Organizers ensured the safety of the 20,000 attendees, including presidential candidates Robert Kennedy Jr. and Vivek Ramaswamy, and Tennessee state senators Bill Hagerty and Marsha Blackburn. Additionally, rumors swirled about Elon Musk's potential attendance, with BTC Inc. CEO David Bailey teasing the possibility. The conference, which aimed to emulate the vibe of a political rally and Burning Man, reflected the industry's growing political influence in the upcoming 2024 election year. Overall, the conference showcased the excitement and potential of the Bitcoin community.

The Impact of Trump's Potential Reelection on Bitcoin

Influential figures like Mark Cuban and Larry Fink show growing support for bitcoin, with predictions of it reaching over $100,000 by 2024. Broader macroeconomic factors, including global uncertainty and the decline of the U.S. dollar, are driving bitcoin's future value. Criticism of crypto regulation and speculation of a more crypto-friendly administration under Trump could fuel a bitcoin bull market. Excitement among investors for tokenization, stablecoins, and decentralized finance innovations also contribute to a significant bitcoin bull market. Trump's pledge to establish a strategic bitcoin reserve and his crypto-friendly agenda position him as a leading candidate, with potential impact on bitcoin's market value. The volatility in bitcoin's price is not out of the ordinary and is driven by growing support from influential figures like Trump. Overall, experts discuss bitcoin's future potential, supply and demand dynamics, and the importance of secure bitcoin custody.

Read 5 more recent news on this topic

The press radar on this topic:

Cointelegraph.com News
28. Juli 2024 um 16:06

How high can BTC price go after Trump’s bullish Bitcoin speech?

Politics
Finance
Trump pledged to make the US the "crypto capital of the world" by creating a national BTC "stockpile" and integrating it as a "permanent national asset." Analyst Daan de Rover expects BTC to reach $813,054 if Trump is re-elected, as he stated BTC may overtake gold's market cap. Senator Cynthia Lummis proposed a US federal reserve of 1 million BTC, around 5% of the total supply. The US government currently holds 210,000 BTC worth over $14.26 billion, which Trump promised to allocate to the US T..
Cointelegraph.com News
29. Juli 2024 um 17:22

BTC price dips 4.5% as US gov't Bitcoin move raises new sell-off fears

Cryptocurrencies & blockchain
Finance
Politics
Economy
Bitcoin price drops 4.5% after $70,000 high; US government $2 billion wallet transfer; Wall Street selling pressure; profit-taking at highs; order book liquidity untouched; upcoming FOMC meeting; traders warn of lower highs and potential BTC price trajectory; $69,000 is a psychologically significant price point at 2021 all-time high.
Cointelegraph.com News
29. Juli 2024 um 21:30

Bitcoin price closes in on all-time high as political and TradFi tone and tenor shift

Cryptocurrencies & blockchain
Economy
Politics
Finance
Bitcoin price approaches all-time high as political support from US presidential candidates, improved regulatory outlook, surge in Bitcoin's estimated mining processing power, and Bitcoin's capacity as a hedge against fiat money debasement triggered by weaker economies boost investor sentiment, despite signs of economic weakness in tech sector and consumer-facing industries.
Cointelegraph.com News
12. August 2024 um 17:15

Why is Bitcoin price volatile today?

Finance
Cryptocurrencies & blockchain
Politics
Bitcoin price volatile due to US dollar strength following a classic V-shaped recovery pattern, potential impact of US presidential politics, upcoming PCE inflation data, large crypto market liquidations, and increased exchange inflows suggesting selling pressure. Traders booking profits ahead of Trump's Bitcoin Conference speech. Bitcoin facing resistance at $69,000 all-time high.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Spotlighting today's most mentioned stocks in the media. Uncover the stories making waves in the stock market:

A closer look at the individuals who are leading today's news narratives. Find out what makes them the center of attention.

Exploring the five locations receiving the most media attention in the last 24 hours. Discover what puts these places in the global spotlight

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!

News

All News
Politics
Technology
Economy
Business
Climate

About

About Us
Team + Mission

Legal

Cookie Settings
Disclaimer
Legal Notice
Data Privacy

Contact

Contact