Trump says will hold a strategic national bitcoin stockpile if re-elected; BTC turns green

Bitcoin ( BTC-USD ) on Saturday turned positive after former U.S. President Donald Trump said he would hold the cryptocurrency in a strategic national stockpile if re-elected. Trump’s remarks came amid his keynote address at the three-day Bitcoin 2024 Conference being held in Nashville, Tenn. Bitcoin ( BTC-USD ) had initially slipped more than 1% during the majority of Trump’s speech. “The United States government is among the largest holders of bitcoin. The federal government has almost 210,000 bitcoin, or 1% of the total supply that will ever exist,” Trump said towards the end of his address. “If I am elected, it will be the policy of my administration – United States of America – to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future … This will serve in effect as the core of the strategic national bitcoin stockpile,” Trump added. After those comments, bitcoin ( BTC-USD ) jumped back into positive territory and was last up 0.9% to $68,063.03. Here are some crypto-focused exchange-traded funds that investors can track: Bitcoin Backed ETFs: ( IBIT ), ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), and ( EZBC ). Blockchain ETFs: ( BITQ ), ( DAPP ), ( BKCH ), ( BLOK ), ( CRPT ), and ( IBLC ). Dear readers : We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion . This is a developing story. Check back for updates. More on bitcoin and crypto Cantor Fitzgerald to launch Bitcoin financing business Bitcoin set to rise marginally on weekly basis Spot Ether ETFs’ Big Day: Looking Beyond Bitcoin Spot ether ETF launch ‘surprisingly successful’ amid lower trading activity: CoinShares BITO: Bitcoin’s Role In The 2024 Election

Source: Seeking Alpha