Bitcoin price today: slips to $108.5k but stays near ATH ahead of 2025 conference

Investing.com-- Bitcoin fell slightly on Wednesday, remaining near its recent record high, as investors closely monitored developments from the ongoing Bitcoin 2025 conference in Las Vegas.

The world’s largest cryptocurrency slipped 1.2% to $108,460 as of 09:48 ET (13:48 GMT).

The token surged to a record high of nearly $112,000 on Thursday last week, but gave some of the gains amid profit-booking and whale trades at peak levels. 

Prices were supported near record highs amid regulatory cheer and optimism over increased institutional adoption.

Bitcoin 2025 Conference signals strategic support

The cryptocurrency hovered near its recent record high, buoyed by significant policy announcements and legislative endorsements at the Bitcoin 2025 Conference, which started a day earlier.

At the conference, Bo Hines, the White House Digital Assets Advisor, emphasized the administration’s commitment to Bitcoin, referring to 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 Act, a bill proposing the acquisition of up to 1 million BTC over five years. 

The legislation, set to be introduced to the Senate floor next week, seeks to formalize the establishment of a Strategic Bitcoin Reserve, initially funded by Bitcoin seized in federal cases. 

These developments come in the wake of President Trump’s March 6 executive order, which established the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile. 

The Bitcoin 2025 conference has attracted significant attention, with industry leaders and policymakers discussing the future of digital assets. 

The event’s high-profile announcements have contributed to Bitcoin’s price stability, as investors anticipate increased institutional adoption and government support for the cryptocurrency.

This year’s edition is expected to be the largest to date, drawing over 30,000 attendees, featuring more than 400 speakers, and involving 5,000 participating companies.

GameStop (NYSE:GME) buys over $500mn worth of Bitcoin

GameStop revealed on Wednesday that it has acquired approximately $513 million worth of bitcoin, marking its first major move into cryptocurrencies since announcing its digital asset strategy in March.

In a regulatory filing, the company said it had purchased 4,710 bitcoins but did not specify the timeline of the acquisitions. As of 7 a.m. ET, bitcoin was trading at $108,903, down 0.7% on the day.

The move reflects GameStop’s effort to tap into the rising global interest in cryptocurrencies as it looks to diversify its business beyond its core retail operations.

Crypto price today: Most altcoins slightly lower in line with Bitcoin

Most altcoins also saw small declines, tracking the tepid performance in the biggest cryptocurrency.

World no.2 crypto Ethereum was muted at $2,659.70.

World no. 3 crypto XRP fell 2% to $2.29. 

Solana slid 3.2%, while Cardano and Polygon lost 2.1% and 1.7%, respectively. 

Among meme tokens, Dogecoin dipped 3.8%, while $TRUMP dropped almost 2%. 

Ayushman Ojha contributed to this report.