Gold reaches new ATH just as Bitcoin breaks 60k again and Trump announces crypto project start date

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Last Updated on 14 September 2024 by CryptoTips.eu

Gold jumped to an all-time high just as Bitcoin broke the $60,000 price point after a few tough weeks. In previous years, these two investments opportunities increased in tandem. That is no longer the case ever since the introduction of the Bitcoin ETFs.

Republican Presidential candidate Donald Trump announced via his social media channels that his newest crypto project, called World Liberty Financial, would be launched on Monday 16 September.

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Gold and Bitcoin

Before the introduction of the Bitcoin ETFs (in January this year), the largest digital currency was seen by many as a kind of ‘safe haven’ to invest in and gold and Bitcoin moved almost in tandem. When markets moved lower, Bitcoin and gold sometimes moved higher as investors wanted to “park” their investment for a while until market volatility subsided.

In the last few days, gold has been rising sharply and it even hit a new record price while Bitcoin is still 20% off its own record price.

Trump

It seems that with every presidential election, Donald Trump announces a new project with which he wants to protect himself in case of loss. In 2016 it was ‘Trump TV’ (which was never launched because he unexpectedly became president), in 2024 it is its own crypto project called ‘World Liberty Financial’.

“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said in a video posted Thursday to X, the social media site that will also host his address on the subject at 8 p.m. EDT on Monday from his Mar-a-Lago home.

Scams

Some people claim that Trump’s family is trying to enrich themselves through the issuance of their own crypto coins. There have already been several scams involving the World Liberty Financial crypto project.

The first time, hackers had rented a banner on the Telegram site of the new currency that, if you clicked on it, guided willing parties to a fake URL where they could exchange their money for the new crypto currency. About 70,000 Trump supporters clicked on the banner according to the latest data. It’s unclear how much hackers took in that scam.

The second time, Lara and Tiffany Trump’s accounts were hacked and fake posts were made promising an airdrop.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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