Bitcoin Surpasses $94K as Trump Addresses Controversial Issues
US President Trump has stirred various topics during his Detroit speech, coinciding with Bitcoin's price rising above $94,000.
During a speech on January 13 in Detroit, President Trump discussed various pressing matters including actions against Iran and tariff criticism. In the meantime, Bitcoin’s value has been steadily increasing, crossing the $94,000 mark for the first time in a week.
While addressing Venezuela, Trump remarked, “as flawless an attack as ever” and asserted that his administration is collaborating with local actors.
He also criticized Fed Chair Jerome Powell for hampering market rallies by maintaining high interest rates, saying, “When the market goes up, the Fed should lower interest rates”. Many worry that the Fed’s policies are slowing economic growth.
Moreover, Trump claimed that individuals opposed to his tariffs are “pro-Chinese”. A US Supreme Court decision on the legitimacy of these tariffs is to be published soon.
As for the situation in Iran, the POTUS suggested that allies should encourage activists to seize their institutions.
The surge in Bitcoin’s price is attributed to these unfolding events, marking an increase of over 2% in the last 24 hours, partly influenced by the announcement of US CPI figures.
