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Cryptocurrency News Articles
Bitcoin Nears $106K as Probability of US Establishing Strategic Reserve Surges to 70%
Jan 19, 2025 at 03:00 am
Well-known venture capitalist and Bitcoin enthusiast Anthony Pompliano shared data indicating a significant increase in the likelihood of incoming president Donald Trump
As Bitcoin (CRYPTO: BTC) trades near the $106,000 level, the chances of the U.S. government setting up a strategic Bitcoin reserve have now surged to a record high of 70%.
What Happened: Star venture capitalist and Bitcoin enthusiast Anthony Pompliano shared data showing a strong likelihood of incoming President Donald creating a strategic Bitcoin reserve in 2025.
This information was shared as Bitcoin briefly touched the $106,000 mark before pulling back slightly. The cryptocurrency is currently trading at $103,120 per coin, showing a decline of 2.71% over several hours.
The speculation regarding the new presidential administration’s approval of plans to set up a strategic Bitcoin reserve has been a key factor in the recent price surge of the cryptocurrency.
Another major factor impacting Bitcoin’s price is the upcoming inauguration of President Donald Trump on January 20.
See Also: Get Free Stock Worth Up To $4,000 Now
The Department of Justice (DOJ) has also recently received court approval to sell 69,370 BTC that was seized from a Silk Road hacker in 2020.
The sale could fetch the U.S. government over $7 billion, but many in the crypto community are hoping that President Trump will step in to prevent the sale and keep the Bitcoin for the proposed strategic reserve.
Why It Matters: The U.S. government setting up a strategic Bitcoin reserve would mark a major endorsement of the cryptocurrency by the government, potentially driving its value even higher.
The move would also signify a shift in the government’s stance on cryptocurrencies, which have been viewed with skepticism by some regulators.
The potential sale of the seized Bitcoin by the DOJ could also have a significant impact on the market. If the sale does go ahead, it could flood the market with Bitcoin, potentially driving down the price.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- Dogecoin (DOGE) vs Lightchain AI (LA) - Which Is the Better Investment?
- Jan 19, 2025 at 09:40 am
- Dogecoin (DOGE) is projected to reach $20 by 2027, driven by growing mainstream adoption, strong community support, and its expanding role in digital payments. However, many investors are also turning their attention to the Lightchain AI Presale, an exciting new opportunity in the crypto world. With its innovative technology and under $0.10 price point, Lightchain AI is quickly gaining traction as a promising contender, fueled by strong utility and bullish market sentiment.
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- Dogecoin Whale Identifies The Next Multi-Million Dollar Success Story
- Jan 19, 2025 at 09:40 am
- The meteoric rise of Dogecoin (DOGE) is one of the most iconic stories in crypto history. Launched as a joke, DOGE traded at around $0.017 in 2017. By May 2021, fueled by social media buzz and celebrity backing, it peaked at over $0.73.
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- Toncoin (TON) Enters Accumulation Phase, Signaling a Potential Rally with a Price Target of $8 or Higher
- Jan 19, 2025 at 09:40 am
- Toncoin (TON) has recently demonstrated a notable upward trend, gaining 1.83% in the past 24 hours and 5.78% over the past week. However, a decline in trading volume of 7.29% to $185.5 million has raised some concerns. Typically, such a divergence between price and volume precedes a potential drop, but this could also trigger the start of a much-anticipated rally.
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