US President-elect Donald Trump confirmed his intention to support the idea of creating a strategic bitcoin reserve. According to the politician, this step will allow the United States to get ahead of other countries, including China, in adopting the digital asset industry.
Trump expressed the corresponding opinion during a conversation with expert and host Jim Cramer. He said that his team plans to «do something great with the crypto industry». The politician also stressed the need to increase electricity production, as the mining industry will require significant resources.m
The idea of creating a Bitcoin reserve was first raised by Senator Cynthia Lummis at the Bitcoin 2024 conference. At the same event, Trump promised to make the United States the “crypto capital of the world.” Speaking at the conference, the politician spoke out against the sale of state-controlled Bitcoin reserves and said that they could become the “core of a national cryptocurrency reserve.”
Soon after that, Lummis introduced the BITCOIN Act of 2024, which would require the United States to purchase 1 million BTC over five years. This step, according to the author of the bill, is aimed at reducing the country's growing national debt, which now exceeds $35 trillion.
After Donald Trump won the presidential election, the idea of creating a strategic bitcoin reserve began to be seriously considered at both the federal and regional levels. Lawmakers from Texas, Florida, Alabama and Pennsylvania proposed the creation of cryptocurrency reserves to strengthen the financial situation of the states.
Analysts note that if the BITCOIN Act of 2024 or a similar bill is passed, bitcoin is expected to jump in price to $500,000 and above. This forecast was made by experts from the investment company Bitwise Asset Management.
At the same time, the founder of The Digital Chamber, Perianna Boring, stated that the price of the first cryptocurrency could reach $800,000. The market capitalization of the asset in such a scenario would exceed $15 trillion.
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