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

President-elect Donald Trump plans to create a Bitcoin strategic reserve for the United States, helping Bitcoin's price soar to a historic high this year. The price of Bitcoin has doubled since its summer lows, skyrocketing to over $100,000 per Bitcoin.

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

MicroStrategy founder Michael Saylor pitched Trump on a “Bitcoin-driven capital market revival” aimed at “unlocking trillions of dollars in wealth.”

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

Bitcoin's price has risen over 100% this year. To avoid future sell-offs, the U.S. can help keep Bitcoin prices high, benefiting existing investors.

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

Senator Cynthia Lummis has proposed a bill suggesting that the U.S. Treasury purchase 200,000 Bitcoins annually until the reserve reaches 1 million Bitcoins.