Donald Trump's return to the White House could mark a historic turning point for bitcoin. The proposal for a national strategic reserve of Bitcoin, carried by Republican legislators, is gaining credibility with Trump's victory in the 2024 presidential election. This initiative could propel the price of BTC to unprecedented heights, according to experts.
A revolutionary bill carried by the Republican camp
The US Senate is currently considering the “Bitcoin Act”, a bill proposed by Republican Senator Cynthia Lummis of Wyoming. This landmark text aims to establish a strategic Bitcoin reserve for the United States, potentially making the country the first nation to use crypto as a national savings technology.
The bill already has bipartisan support, including from Democratic Rep. Ro Khanna, and its likelihood of passage has increased significantly with the new Republican majority in the Senate.
The US government currently holds bitcoin holdings estimated at between $18 and $19 billion, providing a solid basis for establishing this strategic reserve.
According to Anastasija Plotnikova, CEO of Fideum, several states like Pennsylvania have already launched similar initiatives, paving the way for a wider adoption at the federal level.
A catalyst for an explosive valuation of bitcoin
Adam Back, co-founder of Blockstream and inventor of Hashcash, predicts a spectacular rise in Bitcoin of up to $1 million this market cycle. This projection is based on the transformative effect that the adoption of such a law would have by the world's largest economy, a factor that the markets have not yet integrated into their evaluations.
Bitcoin is currently trading around $99,000, just 2% off its all-time high. For Michael Saylor, CEO of MicroStrategy, the Trump presidency could mark the end of the “war on crypto” and accelerate institutional adoption.
This development would be accompanied by other major advances such as the creation of options on Bitcoin ETFs and the acceptance of crypto as a collateral asset by traditional financial institutions.
The establishment of a strategic Bitcoin reserve in the United States could not only propel its price to unprecedented levels, but also definitively legitimize crypto as an asset class among institutional investors, including pension funds and sovereign funds. This initiative would align perfectly with Trump's vision of positioning the United States as a global leader in crypto innovation.
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