Donald Trump has teased a major BTC announcement at the Bitcoin Conference.
CNBC discusses the possibility of Bitcoin (BTC) becoming a reserve currency.
Could this be the announcement that Trump will make at the conference?
Fuelling another bullish wave for the crypto market and the price of Bitcoin (BTC) is an intriguing discussion by CNBC. The news platform showcases a conversation between the speakers of a possibility for Bitcoin (BTC) becoming a reserve currency.
Recently, Donald J. Trump, former US President and present US Presidential candidate for 2024, teased that he will make an exciting announcement for Bitcoin (BTC) at the 2024 Bitcoin Conference.
This spurred infinite rumors in the crypto community from making Bitcoin a reserve currency to making Bitcoin a legal tender. Amidst the rumors there may be some truth and CNBC discusses one possibility, that is making Bitcoin (BTC) a reserve currency.
BREAKING: @CNBC DISCUSSES RUMOR THAT U.S. MIGHT MOVE TO HOLD $BTC AS RESERVE CURRENCY UNDER @realDonaldTrump pic.twitter.com/f7rMCsvDa2
— DEGEN NEWS (@DegenerateNews) July 22, 2024
As we can see from the clip above, the reporter asks if Bitcoin (BTC) can be made into a reserve currency for the United States of America. To this the response is that this is certainly a possible move, but can be a challenging one.
At the moment, the US Justice department holds about 200,000 BTC making the USA the largest BTC holding nation, according to this clip. Thus, these funds could easily be moved to the US Treasury and add $13 billion worth of Bitcoin (BTC) on the balance sheet which will start to make Bitcoin (BTC) a reserve currency for the country.
Adding on, the video states that the Justice department so far has been a random seller and a random buyer which pushes the price of BTC up and down. No doubt the entity has been a long-time HODLer supporting the price of BTC.
So far, both leading candidates, Robert F. Kennedy Jr. and Donald J. Trump are very pro-Bitcoin and pro-crypto. This means that if either candidate takes the win, the future of Bitcoin and crypto standing in the USA will rise exponentially.
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The post Will Trump Announce Bitcoin (BTC) as Reserve Currency for the USA at the Bitcoin Conference 2024? appeared first on Crypto News Land.
