The post Will Bitcoin price hit $100k as investors eye Trump’s crypto summit? appeared on BitcoinEthereumNews.com.

Bitcoin price wavered on Thursday as investors embraced a risk-off sentiment amid the ongoing trade war between the U.S. and its top trading partners. Bitcoin (BTC) was trading at $90,000, up 15% from its lowest level this month, while American stock indices like the Dow Jones, Nasdaq 100, and S&P 500 dropped by over 1%. BTC has two key catalysts that may push its price to $100,000 in the next few days. First, Donald Trump will host the first-ever crypto summit in Washington. This summit will feature top industry leaders, including Ripple’s Brad Garlinghouse, Coinbase’s Brian Armstrong, and Tether’s Paolo Ardoino. The most notable outcome of the summit will be the launch of the Strategic Bitcoin Reserve by Donald Trump. Such a reserve could help boost Bitcoin’s price due to the size of the government’s balance sheet. One option would be to transform the Bitcoin the government holds into reserves. It currently holds 198,109 coins worth over $17.9 billion. Another option would be to push the Cynthia Lummis bill which proposes that the government buy and hold 200,000 coins annually for five years, a move that would lead to substantial demand. David Sacks, the AI and crypto czar, made the case for these reserves, noting that the U.S. government had sold 195,000 coins in the last decade. It raised $366 million from these sales, significantly lower than their current value of $17 billion. Over the past decade, the federal government sold approximately 195,000 bitcoin for proceeds of $366 million. If the government had held the bitcoin, it would be worth over $17 billion today. That’s how much it has cost American taxpayers not to have a long-term strategy. — David Sacks (@davidsacks47) March 6, 2025 US nonfarm payrolls data Another potential catalyst for Bitcoin’s price on Friday will be the…

---

Filed under: News - @ March 6, 2025 8:25 pm