Trump: "Bitcoin is very powerful… the US must lead"

US President Donald Trump stressed the need for the United States to take the lead in responding as the influence of virtual assets (cryptocurrencies), including bitcoin, is expanding rapidly.

Speaking on the 27th (local time) at the Future Investment Initiative (FII, Future Investment Initiative) Summit held in Miami, Florida, Trump said, "Bitcoin is very powerful. Everything is becoming more and more powerful," adding, "Now many people want to make payments with virtual assets, especially bitcoin." He went on to say, "We have to be at the forefront of this trend."

However, bitcoin prices posted a sharp decline the same day amid a worsening situation in the Middle East. Investor sentiment is seen as having deteriorated rapidly after reports that the United States and Israel struck Iranian nuclear facilities and steel mills, followed by news of the possibility of US troops landing on Iran’s Kharg Island and a review of plans to deploy an additional 10,000 ground troops to the region.

Trump further stoked tensions by again referring to the possibility of sustaining military operations. He said, "There are currently 3,554 targets left, and they will be handled very quickly," adding, "We are getting closer and closer to the objectives we want."

Against this backdrop of uncertainty, bitcoin has fallen about 10% over the past two days, breaking below the $67,000 level for the first time since the 9th. It is currently trading around $66,180, down about 4% from the previous day, based on the Binance Tether (USDT) market.