Bitcoin price hits new all-time high after Trump confirms BTC federal reserve plan
The IndependentSign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The price of bitcoin has hit a new all-time high after US President-elect Donald Trump confirmed plans to create a BTC federal reserve. The incoming president first proposed a bitcoin federal reserve during an appearance at the Bitcoin 2024 conference in July, promising to make the US the “bitcoin superpower” of the world. “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC, adding that his plans involved a strategic reserve similar to the US’s oil reserve. It’s highly volatile, it’s not a competitor for the dollar.” Bitcoin has surged more than 50 per cent since the election on 5 November that saw Trump elected along with many other pro-crypto candidates.