The bitcoin price has risen to its highest level since mid-June after Donald Trump indicated his intention to make the US the “crypto capital of the planet” if elected in November.
The largest cryptocurrency climbed by as much as 2.72% to $69,862.47 after the Republican presidential nominee pledged at a weekend conference to transform the US into “the bitcoin superpower” if he returns to the White House following November’s election.
Mr Trump also stated that he would order the US government to refrain from selling crypto seized in criminal cases, instead using the tokens to establish a strategic bitcoin stockpile.
Chris Weston, head of research at Pepperstone, commented that bitcoin had become “a key election trade.”
Bitcoin is now about $4,200 below its record high of nearly $74,000 reached in March.
The Bitcoin price is $69,862.47, a change of 2.72% over the past 24 hours as of 2:14 p.m.
