Close Menu
    Trending
    • IBIT ETF Breaks $100B Barrier
    • Alipay’s 1.4 billion users to benefit from Ant Group’s Ethereum strategy
    • Bitcoin Falls To $110,000 As Corporate Adoption Hits Highs
    • $7K Ethereum by 2026? Analyst Explains the Bullish Case
    • $26 XRP Price Target Remains Technically Valid, Says Expert
    • Analyst Reveals What Needs To Happen For Ethereum Price To Hit $14,000
    • Cypherpunks (Don’t Just) Write Code
    • Ripple’s Wedge Pattern Hints at a Major Move Ahead
    Simon Crypto
    • Home
    • Crypto Market Trends
    • Bitcoin News
    • Crypto Mining
    • Cryptocurrency
    • Blockchain
    • More
      • Altcoins
      • Ethereum
    Simon Crypto
    Home»Bitcoin News»Bitcoin Nears $100,000 As Trump Council Expected To Implement BTC Reserve
    Bitcoin News

    Bitcoin Nears $100,000 As Trump Council Expected To Implement BTC Reserve

    Team_SimonCryptoBy Team_SimonCryptoDecember 3, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Follow Nikolaus On 𝕏 Here

    What an unlimited day it has been right now.

    Gary Gensler formally announced that he’s stepping down from his place as Chairman of the Securities and Trade Fee (SEC), and minutes later, Reuters reported that Donald Trump’s “crypto council” is anticipated to “set up Trump’s promised bitcoin reserve.” A bitcoin reserve, that might see the USA buy 200,000 bitcoin per yr, for 5 years till it has purchased 1,000,000 bitcoin. 

    Picture by way of Julian Fahrer

    Proper after each of these, Bitcoin continued its upward momentum and broke $99,000, with $100,000 feeling like it might probably occur at any second now.

    It’s exhausting to include my bullishness enthusiastic about the USA buying 200,000 BTC per yr. They basically should compete with everybody else on the earth who can be accumulating bitcoin and making an attempt to entrance run them. There are solely 21 million bitcoin and that could be a LOT of demand.

    To place this into context, up to now this yr the US spot bitcoin ETFs have gathered a mixed complete of over 1 million BTC. On the time of launch the value was ~$44,000 and now bitcoin is virtually at $100,000. And that’s all ETFs mixed. Think about what’s going to occur when only one entity desires to purchase a complete of 1 million cash, having to compete with everybody else accumulating giant quantities as effectively?

    I imply MicroStrategy actually simply completed one other $3 BILLION elevate to purchase extra bitcoin, and can proceed elevating till it purchases $42 billion extra in bitcoin. The USA are probably going to be buying their cash (if this laws is formally signed into regulation) at very excessive costs. The demand is insane and solely rising within the foreseeable future.

    With two months left to go till Trump formally takes workplace, it stays to be seen if this invoice turns into regulation, however in the intervening time issues are wanting actually good. As Senator Cynthia Lummis said, “That is our Louisiana Buy second!” and could be a completely historic second for Bitcoin, Bitcoiners, and the long run monetary dominance of the USA of America.

    That is the answer.

    That is the reply.

    That is our Louisiana Buy second!#Bitcoin2024 pic.twitter.com/RNEiLaB16U

    — Senator Cynthia Lummis (@SenLummis) July 27, 2024

    This text is a Take. Opinions expressed are fully the creator’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bitcoin Falls To $110,000 As Corporate Adoption Hits Highs

    October 15, 2025

    Cypherpunks (Don’t Just) Write Code

    October 15, 2025

    Bitcoin Price Falls To $110,000 As Institutions Move Millions

    October 15, 2025

    BlackRock Eyes Tokenization As Bitcoin ETF Passes $100B

    October 15, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Categories
    • Altcoins
    • Bitcoin News
    • Blockchain
    • Crypto Market Trends
    • Crypto Mining
    • Cryptocurrency
    • Ethereum
    Archives
    • October 2025
    • September 2025
    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    Archives
    • October 2025
    • September 2025
    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    Top Posts

    OCC Gives Banks The Green Light To Offer Bitcoin And Crypto Custody And Trading Services

    May 9, 2025

    ad

    About us

    Welcome to SimonCrypto.in, your ultimate destination for everything crypto! Whether you’re a seasoned investor, a blockchain enthusiast, or just beginning your journey into the fascinating world of cryptocurrencies, we’re here to guide you every step of the way.

    At SimonCrypto.in, we are passionate about demystifying the complex world of digital currencies and blockchain technology. Our mission is to provide insightful, accurate, and up-to-date information to empower our readers to make informed decisions in the ever-evolving crypto space.

    Top Insights

    What are the expectations for Consensus 2025 in Toronto?

    May 14, 2025

    Crypto Analyst Puts Bitcoin Price At $120,000 If This Range Breakout Happens

    May 22, 2025

    Is Ethereum Price Gearing Up For A Monster Rally? ETH Up 80% The Last Time This Happened

    June 2, 2025
    Categories
    • Altcoins
    • Bitcoin News
    • Blockchain
    • Crypto Market Trends
    • Crypto Mining
    • Cryptocurrency
    • Ethereum
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 SimonCrypto All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.