Crypto

Bitcoin Reserve Possible In Trump’s First 100 Days: Insider

The possibility of the United States setting up a strategic Bitcoin reserve within the initial 100 days of President-elect Donald Trump’s administration has sparked considerable interest. David Bailey, CEO of BTC Inc., who played a pivotal role in influencing Trump’s position on Bitcoin, underscores the critical need for this move. He warns of the potential risk of other countries surpassing the US in Bitcoin accumulation.

Anticipating the Establishment of the Strategic Bitcoin Reserve

In a recent statement on X, Bailey expressed his concerns about America’s Bitcoin strategy, stating, “America is at major risk of being front run on its Bitcoin agenda.” He emphasized the necessity of establishing the Strategic Bitcoin Reserve swiftly, taking advantage of Trump’s current political stronghold, which includes both the House and Senate. Bailey believes the conducive environment is set for this initiative to be accomplished within the first 100 days.

Amidst growing speculation within the community, there is a keen interest to see how Trump will fulfill his campaign promises. Following his electoral win, Eric Trump, his son, backed this momentum by echoing the sentiment of Michael Saylor, Executive Chairman of MicroStrategy, who declared, “We have a Bitcoin President.” Eric Trump asserted, “America must lead the way!”

Political and Legislative Support for a Bitcoin Reserve

US Senator Cynthia Lummis of Wyoming has reiterated her support for a national Bitcoin reserve. On November 6, she took to X to announce, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE.” Her enthusiasm aligns with her previous legislative efforts, as demonstrated in July when she introduced the Bitcoin Act. This proposal aims for the US government to purchase up to 200,000 BTC annually over five years, culminating in a total of 1,000,000 BTC. Such legislative action resonates with Trump’s vision of converting confiscated BTC into a national reserve.

Global Implications and Community Reactions

The strategic move to establish a US Bitcoin reserve has significant global implications. David Bailey recently noted that many nation-states are poised to make significant strides into Bitcoin. This sentiment is echoed by Dylan LeClair, a respected analyst, who highlighted the urgency of the situation, stating, “You have approximately three months until the US Government puts into law active accumulation of BTC as a strategic reserve asset. Other sovereigns will be discreetly front running. The clock has already started.”

Joe Consorti, Head of Growth at Theya Inc., elaborated on the magnitude of the proposed accumulation, explaining that the US plans to acquire 550 BTC per day over five years, maintaining possession for a minimum of 20 years. He described this as “an infinite balance sheet pouring into absolute and immutable scarcity,” underscoring the monumental scale of this initiative.

Market Perspectives and Future Outlook

Travis Kling, CEO and founder of Ikigai Asset Management, reflected on the changing dynamics and the feasibility of this proposal. Initially, he was skeptical, considering it an overly optimistic scenario. However, with the political shift, he acknowledges that the likelihood has significantly increased, stating, “If it does, legit WAGMI.”

As of the latest market data, Bitcoin is trading at $74,640. Analysts and stakeholders are closely monitoring the developments surrounding the US strategic Bitcoin reserve, anticipating profound impacts on both national and global scales.

Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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