Bitcoin Rockets Past $72,000 After Trump Pushes For Clarity Act

Bitcoin’s price surged further on Thursday, blowing past $72,000 the day after President Trump held a meeting with crypto executives and urged lawmakers to get the long-awaited Clarity Act over the line. 

The leading cryptocurrency was trading for $71,758 at 8am in New York, after jumping nearly 12% over a 24-hour period. It touched as high as $72,344 earlier in the day. 

Bitcoin was last trading this high at the beginning of June. The coin has spent most of July and August priced under $65,000. 

The surge comes after President Trump held a meeting at the White House with crypto bigwigs, including Kraken and Coinbase CEOs, where he said that getting the Clarity Act over the line would keep the U.S. ahead of China.  

“Now we need Congress to take the next step by passing the Clarity Act — a fair version of the Clarity Act — and this landmark structure legislation,” he said at a Wednesday press conference, and even hinted that the U.S. may be open to accumulating bitcoin. 

“It’s taken a lot of pressure off the dollar, it’s been very, very good for the dollar, and I think if [regulators] came in with recommendations, I would certainly listen,” Trump added when asked about adding to the Strategic Bitcoin Reserve.