Bitcoin wobbles as Trump delivers pro-crypto conference speech

The 45th president of the United States caused some minor ripples throughout the cryptocurrency market with his speech at the Bitcoin 2024 conference.

Donald Trump’s keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee, didn’t act as the whale call some analysts predicted, but its impact may yet be felt as word gets out. 

The former United States president laid out his plans to end the war on crypto to thunderous applause as he told the audience his plans if reelected. While the crowd was jazzed, the markets failed to capture the Republican Party nominee’s supporters’ anticipation.

Approximately one hour before Trump was scheduled to take the stage, the price of Bitcoin stood at $68,626. Leading up to the event, with just 30 minutes to go, it jumped nearly $500 in the positive direction, but by the time the speech was slated to start, it had retreated back to $68,286.

As he finally took the stage in Nashville an hour late at approximately 3:00 pm Central Time, Bitcoin traded at roughly $68,447.

Despite promising to send Bitcoin to the Moon and fire Gary Gensler on day one, as well as stating that he would “never sell” the country’s current Bitcoin stockpile and recommitting to freeing former Silk Road operator Ross Ulbricht, even the former president’s own enthusiasm wasn’t reflected in the market.

As his speech concluded, the price of Bitcoin was $67,382 — down about 1.72% from just three hours earlier.

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