Mr. Trump wants to establish a reserve fund, Bitcoin predicted to reach $800,000❗️❗️
President Donald Trump has confirmed plans to establish a national strategic Bitcoin reserve fund. He expects the U.S. to lead this industry ahead of other countries.
According to Forbes, President-elect Donald Trump recently confirmed plans to establish a strategic Bitcoin reserve fund.
"We are going to do something great with cryptocurrency. We do not want China or anyone else to lead... Many other countries are approaching cryptocurrency and we must find a way to get ahead," Mr. Trump shared on CNBC.
In July, while still a Republican candidate, Mr. Trump committed to creating a national Bitcoin reserve fund. The leader also predicted that Bitcoin's market capitalization could surpass the size of the gold market (valued at $16 trillion) in a speech at the 2024 Bitcoin Conference.
If Mr. Trump's proposals for the cryptocurrency community succeed, the potential of Bitcoin is limitless, as the supply of Bitcoin is fixed,” Perianne Boring, founder of the Digital Chamber of Commerce, commented.
Additionally, Boring noted that based on technical models, the price of Bitcoin could exceed $800,000 by the end of next year. This would raise Bitcoin's market capitalization to about $15 trillion, nearly 8 times its current value.