Bitcoin Dips Slightly but Holds Near Record High as 2025 Conference Gains Momentum
Bitcoin edged lower on Wednesday but remained close to its all-time high, with market attention firmly fixed on key developments unfolding at the ongoing Bitcoin 2025 Conference in Las Vegas.
As of 09:48 ET (13:48 GMT), the leading cryptocurrency declined by 1.2% to trade at $108,460.
The token recently hit a record of nearly $112,000 last Thursday, before retreating slightly due to profit-taking and large-scale transactions by major holders. Still, prices stayed buoyant, supported by favorable regulatory sentiment and growing interest from institutional investors.
Bitcoin 2025 Sparks Confidence with Pro-BTC Signals
Bitcoin’s resilience near its peak came as influential policy announcements emerged from the Bitcoin 2025 Conference, which kicked off a day earlier.
Bo Hines, Digital Assets Advisor to the White House, addressed attendees by reaffirming the federal government’s long-term commitment to Bitcoin. Labeling the asset as “digital gold,” Hines noted that the U.S. has no plans to offload its Bitcoin holdings and aims to expand its reserves through strategic accumulation.
Adding to the bullish narrative, Senator Cynthia Lummis revealed that President Donald Trump backs the BITCOIN Act—a proposed bill to authorize the U.S. acquisition of up to 1 million BTC over five years. The bill is slated for introduction in the Senate next week and would establish a Strategic Bitcoin Reserve, initially sourced from BTC confiscated in federal enforcement actions.
These updates follow Trump’s March 6 executive order, which laid the groundwork for both the Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The conference itself has become a focal point for both the crypto industry and policymakers, drawing massive attention. With more than 30,000 attendees, 400+ speakers, and over 5,000 participating companies, this year’s event is expected to be the largest yet. Its high-impact announcements have helped stabilize Bitcoin’s price and reinforced expectations of broader adoption.
GameStop Enters Crypto Market with Major BTC Purchase
In a separate major development, GameStop Corp (NYSE: GME) announced on Wednesday that it had purchased approximately $513 million worth of Bitcoin—its first significant step into the crypto space since unveiling its digital asset strategy in March.
The company disclosed in a regulatory filing that it had acquired 4,710 BTC, though it did not specify the dates of purchase. As of 7 a.m. ET, Bitcoin was trading at $108,903, reflecting a 0.7% daily drop.
GameStop’s move signals a shift toward diversifying beyond its traditional retail business and tapping into the growing global momentum around digital assets.
Altcoins Drift Lower in Sync with Bitcoin
The broader cryptocurrency market mirrored Bitcoin’s slight dip, with most altcoins posting modest declines.
- Ethereum (ETH), the second-largest cryptocurrency, was little changed at $2,659.70.
- XRP dropped 2% to $2.29.
- Solana fell 3.2%, while Cardano and Polygon were down 2.1% and 1.7%, respectively.
- Dogecoin slid 3.8%, and the meme-inspired $TRUMP token declined by nearly 2%.
