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Bitcoin (BTC-USD) rose on Saturday after former US President Donald Trump said he would hold the cryptocurrency as a strategic national reserve if re-elected.
Trump’s remarks were made during a keynote address at the ongoing three-day Bitcoin 2024 conference. Bitcoin (BTC-USD) was initially Falling by more than 1% During much of President Trump’s speech.
“The United States government is one of the largest holders of Bitcoin. The federal government holds approximately 210,000 Bitcoin, which represents 1% of the total future supply,” Trump said near the end of his speech.
“If I am elected, it will be the policy of my Administration, the policy of the United States of America, to hold 100% of all Bitcoin currently owned or acquired by the United States Government. This will effectively be the core of the nation’s strategic Bitcoin stockpile,” Trump added.
After these comments, Bitcoin (BTC-USD) once again jumped into positive territory and finally 0.9% increase The total came to $68,063.03.
Here are some cryptocurrency-focused exchange-traded funds that investors can track.
- Bitcoin-backed ETFs: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), (EZBC).
- Blockchain ETFs: (BITQ), (DAPP), (BKCH), (BLOK), (CRPT), and (IBLC).
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This is a developing story, check back for updates.
