As the Bitcoin Conference, scheduled for July 23, approaches, the crypto community is awash with speculation following comments from top names in the industry. Rumors that former President Donald Trump may declare Bitcoin (BTC) a “strategic reserve” for the United States are keeping the agenda busy.

The founder of the cryptocurrency fund, Charles Edwards, expressed his views on the potential impact of such an announcement. “There is very little chance of a once-in-a-lifetime repricing of Bitcoin starting next week,” Edwards said. He admitted that while the current likelihood is relatively low, the potential impact of announcing an official Bitcoin reserve asset would be unprecedented. “Small probability * large impact means#Bitcoinis ridiculously undervalued,” he added.

Trader Andrew Kang also weighed in on speculation and emphasized the importance of rumors. “BTC was supposed to be promoted as a national asset held as treasury reserves, which is now serving as a platform for many politicians,” Kang said. He emphasized that whether the initial effort is successful or not, the discussion of Bitcoin as a national reserve asset presents a very different asymmetric bullish scenario.

Kang details the potential consequences, suggesting that if the United States adopts Bitcoin as a reserve asset, other countries could follow. He also addressed rumors that a major Asian conglomerate is stepping in to play similar roles to Coinbase and MicroStrategy. Kang concluded his words as follows: “These developments are faster than expected, but I'm not complaining, this month is going to be great.”