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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.
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- Bitcoin Backed ETFs: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), and (EZBC).
- Blockchain ETFs: (BITQ), (DAPP), (BKCH), (BLOK), (CRPT), and (IBLC).
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This is a developing story. Check back for updates.