Bitcoin has surged following the Federal Reserve’s decision to keep interest rates unchanged, marking a significant shift—though traders have been warned of a potential new risk.
Stay ahead of Donald Trump, the White House, and Wall Street by subscribing to
Forbes’ CryptoAsset & Blockchain Advisor
to “discover blockchain blockbusters poised for over 1,000% gains!”
The price of bitcoin skyrocketed toward $88,000, gaining nearly $10,000 from its previous low last week, driven by a significant bitcoin price forecast reaching its first target.
With Russia preparing for a cryptocurrency confrontation with the U.S., a leak has confirmed that a significant crypto update from President Donald Trump is on the horizon.
Register now for the free
CryptoCodex
—A daily five-minute newsletter designed for traders, investors, and those curious about crypto, keeping you informed and ahead of the bitcoin and crypto market surge.
President Donald Trump will be addressing a crypto conference following the leak of his pre-recorded message yesterday, which contributed to the surge in bitcoin prices.… [+]
Getty Images
“A major announcement regarding Donald Trump’s forthcoming crypto policy is expected shortly from the Blockworks Digital Asset Summit,”
Eleanor Terrett, a former Fox Business reporter now hosting a crypto podcast, shared on X.
Blockworks, a cryptocurrency media outlet, later confirmed the leak, highlighting Trump’s pre-recorded speech to be presented to attendees on Thursday morning as “the first time a sitting president has ever addressed a crypto industry conference.”
While details of Trump’s speech remain under wraps, Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, previously informed the conference that the U.S. aims to acquire “as much [bitcoin] as we can get.”
“It’s time for our president to amass assets for the American public, which is exactly what President Trump is undertaking instead of divesting,” Hines stated, referring to Trump’s executive order that bans the sale of bitcoin and cryptocurrency seized by the U.S.
Last week, Hines informed attendees of a private round table organized by the Bitcoin Policy Institute that the White House intends to purchase as much bitcoin as possible.
Sign up today for
CryptoCodex
—A free, daily newsletter for those curious about crypto.
Bitcoin’s value has soared in recent months but recently declined from its all-time high of nearly $110,000, as traders cautiously reassess bets on Trump’s cryptocurrency strategies.… [+]
Forbes Digital Assets
Earlier this month, after Trump’s unexpected announcement that Ripple’s XRP, Solana, and Cardano would constitute a U.S. cryptocurrency reserve, the White House reconsidered its strategy to create a bitcoin-exclusive reserve along with a stockpile of smaller cryptocurrencies.
Trump reaffirmed his dedication to bitcoin during the highly publicized White House crypto summit, establishing its priority over other cryptocurrencies in a reserve likened to a “digital Fort Knox,” a reference to the U.S. gold reserve.
David Sacks, Trump’s crypto ambassador, stated that the U.S. Treasury would strive to “maximize the value” of bitcoin and other cryptocurrencies held by the nation in both its reserve and crypto stockpile.
“The crypto stockpile should benefit from sound portfolio management, and fortunately, we have an extremely successful former hedge fund manager serving as our Treasury Secretary, who will devise the optimal way to manage these assets,” Sacks said on the All In Podcast he cohosted before taking his White House role.
