Big Analyst Claim: “Bitcoin Could Be Revalued in a Once-in-a-Lifetime Way on July 27th”
As the Bitcoin Conference, planned to be held on July 23, approaches, the cryptocurrency community is awash with speculation following comments from the industry's top names. Rumors that former President Donald Trump may declare Bitcoin (BTC) as a “strategic reserve” for the US are keeping the agenda busy.
Cryptocurrency fund founder Charles Edwards expressed his opinion on the potential impact of such an announcement. “There is a small chance of a one-time revaluation of the Bitcoin price starting next week,” said Edwards. He acknowledged that while the probability is relatively low for now, the potential impact of an official announcement of Bitcoin reserve assets would be unprecedented. “Small probability * big impact means#Bitcoinis ridiculously undervalued,” he added.
Trader Andrew Kang also weighed in on the speculation and emphasized the importance of the rumors. “BTC is said to be promoted as a national asset held in the form of treasury reserves, currently serving as a platform for many politicians,” said Kang. He emphasized that whether the initial attempt is successful or not, the discussion of Bitcoin as a national reserve asset introduces a very distinct asymmetric positive scenario.
Kang detailed the possible consequences, suggesting that if the United States accepts Bitcoin as a reserve asset, other countries could follow suit. He also mentioned rumors that a large Asian conglomerate is stepping in to perform similar functions to Coinbase and MicroStrategy. Kang concluded his words as follows: “This upward evolution was faster than expected, but I'm not complaining, this month will be great.”
