Crypto
Bitcoin Surges Past $70K on Trump's Sizable Purchase Hints
Bitcoin reclaimed the $70,000 mark for the first time since June 2, ending an 78-day wait.
The price move crushed crypto shorts, with a loss of $1.23 billion in just one hour.
The development was fueled by President Donald Trump's hints at a 'sizable' government Bitcoin purchase, which he said would be beneficial for the dollar.
Trump made these comments during a White House meeting on August 19, where he also urged Congress to pass the CLARITY Act and stated that the US must remain the 'undisputed leader' in digital assets.