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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Dec 03, 2024 07:18 UTC
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Trump’s U.S. Strategic Bitcoin (BTC) Reserve Is Confirmed, Claims Dennis Porter
The US is planning to establish a national Bitcoin reserve, potentially sparking a global trend.
Several US states are already working on Bitcoin reserve legislation, demonstrating early support.
This could significantly increase demand for Bitcoin, potentially leading to supply shortages and price surges.
Following Donald Trump’s historic victory as the next U.S. President last month, the world is watching as Bitcoin (BTC) and digital assets gain more attention than ever before. One of his boldest promises is the creation of a national Bitcoin stockpile, which will add to the existing BTC holdings.
The U.S. creating a strategic Bitcoin reserve could spark a global movement, significantly boosting demand for Bitcoin. This is especially important as many countries, including Japan and the U.S., have debt-to-GDP ratios above 100 percent, which is unsustainable in the long run.
As nations face this challenge, Bitcoin may become a valuable alternative to protect their economies.
US Strategic Bitcoin Reserve
Denis Porter, CEO and co-founder of the Satoshi Action Fund, believes that Bitcoin reserve legislation could pass at the state level before Trump’s administration introduces a similar federal policy. However, Porter also suggested that Trump might act quickly, issuing an executive order in his first week to kickstart the federal initiative.
Porter shared that 10 U.S. states already have plans to introduce their own Bitcoin reserves. To help push these plans forward, Porter has called on the crypto community to donate to the Satoshi Action Fund, which will support the legislation process.
Bitcoin’s Critics
Not everyone is convinced. Bitcoin critic Peter Schiff has warned investors to keep their expectations in check. He believes the bill has limited support, with only Senator Cynthia Lummis and Rep. Ro Khanna backing it at the moment.
Impact on BTC Price
With more nations adopting Bitcoin and institutional investors joining the trend, Porter predicts a major supply-demand imbalance. He warns that in the future, it could become nearly impossible to buy Bitcoin as demand continues to rise.
In the meantime, Bitcoin’s price is expected to continue its bull run, likely surpassing the $100K mark. With these changes, Bitcoin is poised to play a central role in the global economy.
As nations build their reserves, the demand for Bitcoin is only set to rise — and it’s a trend that’s hard to ignore.
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