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Trump proposes Bitcoin reserve to secure U.S. economic leadership and combat inflation. The initiative could drive Bitcoin’s market cap to $15 trillion, with prices potentially surpassing $500,000 per coin. Critics warn of Bitcoin’s volatility, while supporters hail it as a visionary move to outpace global competitors. The announcement by U.S. President-elect Donald Trump about creating optimism. He stated “Bitcoin is going to represent our once-in-a-century opportunity of securing economic supremacy for America,” Bitcoin reserve as America’s Strategic Economic Asset Trump has positioned Bitcoin as a strategic asset that could help the U.S. maintain its global economic leadership. Speaking to over a thousand attendees virtually, he emphasized his plan to establish a Bitcoin reserve, drawing parallels to the nation’s strategic oil reserves. “We are going to lead the world in blockchain innovation and ensure Bitcoin becomes a mainstay of our financial future,” Trump declared. The proposed policy aims to mitigate inflation risks while boosting Bitcoin’s value. If implemented, the move would significantly shift the U.S. government’s stance from cautious regulation to active participation in the cryptocurrency sector. Republican Senator Cynthia Lummis has already introduced the BITCOIN Act which proposes the U.S. purchase 1 million Bitcoins over five years. Crypto analysts have been quick to speculate on the potential market implications of this ambitious policy. With Bitcoin currently valued at nearly $1 trillion, Trump’s proposal could propel the cryptocurrency’s market capitalization to new heights, potentially reaching $15 trillion. Supporters vs. Critics Some projections suggest that Bitcoin prices could surpass $500,000 per coin if the U.S. adopts it as a reserve asset. “A move like this would trigger tidal waves of institutional investment,” stated cryptocurrency economist Alex Monroe. “The U.S. embracing Bitcoin as a reserve asset could drive adoption globally, transforming it into a de facto global currency.” The geopolitical implications are significant.…

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Filed under: News - @ December 15, 2024 9:15 pm