Bitcoin, Trump inflames the cryptocurrency: towards $70,000
The cryptocurrency is close to $70,000, but has reached over $71,000
2' min read
2' min read
(Il Sole 24 Ore Radiocor) The value of Bitcoin is soaring: it is approaching $70,000 and has now reached over $71,000. Giving wings to the cryptocurrency were the words of former US President Donald Trump, who declared: "If I am elected, Bicoins will form the basis for the national strategic reserve". Not only that. The tycoon also said: 'I will establish the Presidential Council on Bitcoin and Cryptocurrencies' and within 100 days 'rules will be written for the crypto industry, in collaboration with experts', sending the cryptocurrency trading public into raptures. Trump went so far as to state that he will fire the current chairman of the SEC, Gary Gensler, who is known to have fought many battles against the crypto world. More: 'I will make the US the crypto capital of the planet and the bitcoin superpower of the world'.
The cryptocurrency has been on the rise since polls give Trump as the favourite for next autumn's presidential election. At the beginning of July it was below $60,000, after which it soared, especially after the assassination attempt on Trump (on 13 July) that made the former president jump in the polls. The Bicoin had already gone above $71,000 last March, touching a top on 13 March at $73,066.
Bitcoin's performance is also dragging up other cryptocurrencies such as Ethereum and Solana.
Ironically, Trump had severely criticised Bitcoin when he was in the White House, not only calling it 'a non-currency', but also stating that it is 'highly volatile, based on thin air'. He even went so far as to state that Bitcoin is 'an impending catastrophe'. Evidently over time Trump has changed his position. Perhaps thanks to the explanations of the entrepreneur Elon Musk, one of his main backers, who is very active on cryptocurrencies.
