Bitcoin, the leading cryptocurrency, has experienced a substantial increase in value, reaching close to $70,000. This surge can be attributed to the influential remarks made by former US President Donald Trump at the Bitcoin Conference 2024 held in Nashville. Trump expressed his support for Bitcoin by assuring the public that if he were to be re-elected, he would not sell the Bitcoin holdings of the US government. This statement showcased his favorable stance towards cryptocurrencies. Moreover, Trump proposed the idea of preserving Bitcoin as a strategic reserve, which had a positive impact on market sentiment and propelled Bitcoin towards this noteworthy price level.
