Bitcoin bounces to $89,500 as Trump strikes calmer tone in Greenland acquisition in Davos

Bitcoin BTC$89,109.82 mounted a modest bounce on Wednesday U.S. morning in the U.S. as Trump struck a more conciliatory tone on Greenland during a keynote speech at the World Economic Forum at Davos.

“I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States, just as we have acquired many other territories throughout our history,” Trump said. “This will not be a threat to NATO.”

“All I’m asking is a piece of ice,” he added later during the speech, noting that he won’t use force for the acquisition.

Bitcoin climbed to $89,500, up more than 1% from the session lows. Meanwhile, gold fell from its fresh record of almost $4,900, giving back some of the early gains.

Risk assets, including cryptocurrencies, saw sharp declines over the past days as investors grew increasingly concerned about rising tensions between U.S. and Europe over Greenland. Trump threatened to impose tariffs against several European countries.

Read more: Bitcoin falls below $89,000 amid new tariff war concerns, bond selloff