Bitcoin Prices See Wild Trading as Trump Plans to Establish BTC as U.S. Strategic Asset

Markets

Bitcoin {{BTC}} price volatility boomed as former U.S. President Donald Trump's speech at Bitcoin 2024 in Nashville.

Trump unveiled plans to make a "strategic national bitcoin stockpile" if elected, which was in line with the market expectations heading into the speech.

In the lead-up to Trump's comments, the digital asset rose above $69,000 on Saturday. The price fell to as low as $66,700 before jumping back over $68,000, data from CoinGecko shows, as traders digested the speech. The broader market index, CoinDesk20, followed the same pattern.

Nearly $24 million in longs, or bets on higher prices, were liquidated during the speech, which may have contributed to the price decline.

20 November

Tech

yesterday

Ethereum-compatible Layer 1 Monad has begun rolling out its testnet, signaling a new phase for the high-performance blockchain. Built from the ground up with a unique pipelined architecture, Monad boasts up to 10,000 TPS and one-second block times, making it a promising step for Ethereum developers and users alike.

Policy

yesterday

Nepal’s cracking down on crypto scams as fraud rises despite a trading ban. The Financial Intelligence Unit plans tougher rules, better transaction monitoring, and public awareness to fight back.

Business

yesterday

Tether, Kraken, and Fabric Ventures are teaming up with Quantoz Payments to bring MiCA-compliant stablecoins EURQ and USDQ to the EU. Fully backed and licensed by the Dutch Central Bank, these tokens aim to make digital payments faster, cheaper, and more transparent. Launching Nov. 18, with listings on Kraken and Bitfinex soon after.

General

yesterday

MicroStrategy doubles down on Bitcoin, adding $4.6B worth to its stash—51,780 BTC at an average of $88,627. With a total holding of 331,200 BTC now worth $30B, Saylor's bold bet rides the recent surge past $93K.

13 November

General

8 days ago

Mt. Gox sends 2,500 BTC ($222M) to unmarked wallets in its fifth transfer this month, per Arkham Intelligence. The bankrupt exchange continues internal and external bitcoin moves since Oct. 31, sparking speculation about future creditor distributions.

Markets

8 days ago

Bitcoin surged to an all-time high of $90K before pulling back slightly, fueling excitement across the crypto market. Leading the charge among altcoins, Dogecoin soared over 50% in just 24 hours, hitting $0.44, while Ripple (XRP), after a slow week, leaped 12% to surpass $0.65.

Tech

8 days ago

Interoperability advances on Polkadot with Hyperbridge’s mainnet launch. This protocol enables fast, secure crosschain connections with support for Ethereum, Optimism, and more, paving the way for a unified blockchain ecosystem.

Business

8 days ago

El Salvador's Bitcoin stash hits $100M unrealized profit, sparking a victory lap from President Bukele: "I told you so." Despite IMF warnings and criticism, El Salvador’s BTC investments since 2021 have surged in value, now totaling $516M. Bukele stands firm on holding, riding Bitcoin’s 436% rise from lows after the FTX collapse.

Policy

8 days ago

The Digital Chamber urges U.S. lawmakers to pass stablecoin legislation as use surges worldwide. A new report, "How Stablecoins are Extending U.S. Dollar Dominance," highlights their role in cross-border payments and savings, stressing that swift regulation could reinforce dollar dominance.

05 November

Markets

16 days ago

Bitcoin’s price steadied over the weekend, hovering near $68,500, after nearly touching a new all-time high at $73,600 last week. Altcoins are mostly steady, with DOGE, ETH, and BNB show slight gains, with XRP leading at a 2% rise. In contrast, SOL, ADA, and SHIB have seen small declines, while LINK is down by 3.5%, marking the largest drop among major altcoins.

Bitcoin Prices See Wild Trading as Trump Plans to Establish BTC as U.S. Strategic Asset

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