📢 “Turning Point”——Trump plans to establish a $280 trillion Bitcoin reserve to boost the cryptocurrency market

U.S. President-elect Donald Trump plans to establish a U.S. Bitcoin strategic reserve, helping Bitcoin prices soar to historic highs this year. Bitcoin prices have doubled since the summer low, soaring above $100,000 per Bitcoin.

Trump congratulated the Bitcoin community for reaching historic highs at the Turning Point USA event in Phoenix, highlighting the rise in risk appetite in the market since the election.

MicroStrategy founder Michael Saylor pitched Trump on a “Bitcoin-driven capital market revival” to “unlock trillions of wealth.”

Saylor's proposal envisions expanding the “global digital capital market from $20 trillion to $280 trillion, with U.S. investors capturing the majority of the wealth.”

Bitcoin prices have risen over 100% this year. To avoid future sell-offs, the U.S. can help maintain high Bitcoin prices, thereby benefiting existing investors.

Some experts believe that the government needs to do more than just hold existing cryptocurrencies and should also establish a Bitcoin strategic reserve.

Senator Cynthia Lummis introduced a bill suggesting that the U.S. Treasury purchase 200,000 Bitcoins each year until the reserve reaches 1 million Bitcoins.