Will Bitcoin rise to $500,000?

During a Bitcoin conference in July, Trump stated that once he becomes president, the U.S. will retain all Bitcoin held or to be acquired by the government, converting 'massive wealth into permanent national assets for the benefit of all Americans.' Other supporters suggested that the U.S. should purchase around 1 million Bitcoins, which, at the current price of cryptocurrency, would be valued at over $90 billion.

If the U.S. really establishes a Bitcoin strategic reserve, Novogratz predicts that the price of the world's largest cryptocurrency will soar to $500,000. The trading price of Bitcoin has already set a historical high of over $93,000.

'If the U.S. establishes a Bitcoin strategic reserve, as someone who holds a large amount of Bitcoin, I wouldn’t feel sad,' Novogratz said. 'I believe Bitcoin will rise to $500,000. This is a different paradigm, as it forces all other countries to join in.'

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