The Return of Donald Trump to the White House Could Mark a Historic Turning Point for Bitcoin

The proposal for a national strategic reserve of Bitcoin, championed by Republican lawmakers, gains credibility with Trump's victory in the 2024 presidential election.

Donald Trump’s return to the White House could mark a historic turning point for Bitcoin. The proposal for a national strategic reserve of Bitcoin, championed by Republican lawmakers, gains further steam with Trump’s victory in the 2024 presidential election. This initiative, if realized, could propel BTC prices to new all-time highs, according to several experts.

The US Senate is currently examining the “Bitcoin Act”, a bill sponsored by Republican Senator Cynthia Lummis of Wyoming. This landmark text aims to establish a strategic Bitcoin reserve for the United States, potentially making the country the first nation to adopt crypto as a national savings technology.

The project already enjoys bipartisan support, notably from Democratic Representative Ro Khanna, and its chances of adoption have improved significantly with the new Republican majority in the Senate.

The US government currently holds Bitcoin assets estimated between $18 and $19 billion, thus forming a solid foundation for setting up this strategic reserve.

According to Anastasija Plotnikova, CEO of Fideum, several states like Pennsylvania have already launched similar initiatives, paving the way for a broader federal adoption.

Adam Back, co-founder of Blockstream and inventor of Hashcash, predicts a spectacular rise in Bitcoin that could reach a million dollars in this market cycle. This projection is based on the transformative effect that the adoption of such a law by the world’s largest economy would have, a factor that the markets have yet to integrate into their valuations.

Bitcoin is currently trading around $99,000, just 2% off its all-time high. For Michael Saylor, CEO of MicroStrategy, a Trump presidency could mark the end of the “war against cryptos” and accelerate institutional adoption.

This evolution would come alongside other major advances such as the creation of options on Bitcoin ETFs and the acceptance of crypto as collateral by traditional financial institutions.

The establishment of a strategic Bitcoin reserve in the United States could not only drive its price to new all-time highs but also definitively legitimize crypto as an asset class among institutional investors, including pension funds and sovereign wealth funds. This initiative would align perfectly with Trump’s vision of positioning the United States as a global leader in crypto innovation.