$BTC
Bitcoin stabilized on Wednesday, slightly supported below its recent record levels, as investors closely monitored developments from the ongoing Bitcoin 2025 conference in Las Vegas.
The world's largest cryptocurrency remained largely unchanged at $109,030.2000 at 09:41 Saudi time.
The token had risen to a record high of around $112,000 last Thursday, but gave up some gains amid profit-taking and whale trading at peak levels.
Prices received support near record levels amid regulatory optimism and optimism about increased institutional adoption.
Bitcoin 2025 Conference Indicates Strategic Support
The cryptocurrency hovered near its recent record level, bolstered by significant political announcements and legislative endorsements at the Bitcoin 2025 conference, which began the day before.
At the conference, Bo Hines, the White House digital asset advisor, reaffirmed the administration's commitment to Bitcoin, describing it as "digital gold." Hines stated that the U.S. government has no intention of selling its Bitcoin holdings and aims to accumulate more through strategic reserves.
Senator Cynthia Lummis also made headlines by announcing that President Donald Trump supports the Bitcoin bill, which proposes to acquire up to one million Bitcoins over five years.#Bitcoin2025
