US Treasury Secretary Scott Bessent Backs Bitcoin, Predicts $150K by April 2025

With pro-crypto policies gaining traction in Washington and states moving to adopt Bitcoin as a strategic reserve, analysts are predicting a major Bitcoin

Despite a recent dip, Bitcoin is still trading above $100,000. This has sparked predictions of a major breakout, with some analysts projecting BTC could reach over $150,000 by April 2025.

CoinCodex AI prediction algorithm anticipates this surge will be driven by several key factors, including increased institutional adoption, government support for crypto, and growing supply scarcity.

Is this the beginning of Bitcoin’s next parabolic price run? Let’s dive into the latest developments and what they could mean for the future of crypto in the U.S.

U.S. Treasury Secretary Expresses Strong Support for Bitcoin, Criticizes Democrats for Crypto Approach

In a recent interview with Fox Business, U.S. Treasury Secretary Scott Bessent voiced strong support for Bitcoin and crypto adoption, aligning with President Trump’s pro-crypto stance. He emphasized that the crypto economy is here to stay and criticized the Democratic Party's approach to digital assets.

“I've been excited about the president's embrace of crypto, and I think it fits very well with the Republican Party ethos. Having said that, crypto is about freedom, and the crypto economy is here to stay.”

He went on to accuse the Democrats of distancing themselves from crypto due to the fallout from Sam Bankman-Fried, the disgraced FTX founder whose donations were heavily linked to the Democratic Party.

“They're willing to take down the whole industry because of bad behavior on their part, bad behavior from one actor.”

Beyond politics, Bessent highlighted Bitcoin's role in bringing new investors into markets, particularly younger generations who have been skeptical of traditional finance.

“Having a market culture in the U.S. and people believing that markets work for them is the centerpiece of capitalism. Crypto is bringing in young people. It's bringing in people who haven't participated in markets.”

With institutional adoption on the rise and several U.S. states exploring Bitcoin as a reserve asset, Bessent's comments underscore the growing significance of crypto in America's financial future.

Several U.S. States Progress in Establishing Bitcoin Strategic Reserves

As the crypto conversation heats up in Washington, several U.S. states are taking action to include Bitcoin in their strategic reserves. This movement is gaining momentum, with legislative developments unfolding in multiple states:

1. Wyoming Advances Bill to Allocate 5% of State Funds to Crypto

The Wyoming House of Representatives recently passed House Bill 141, which would allocate 5% of state funds to digital assets, including Bitcoin and Ethereum. This bill now heads to the Wyoming Senate for further consideration.

2. Tennessee House Committee Approves Bill to Include BTC in State Treasury

The Tennessee House State Government Committee advanced a bill that would allow the state treasurer to invest a portion of funds in precious metals, real estate, and digital assets like Bitcoin. This bill will now proceed to the full House for a vote.

3. Maryland Lawmakers Submit Bill to Create Bitcoin, Ethereum Trust Fund

Maryland lawmakers have proposed a bill that would establish a trust fund to hold Bitcoin and Ethereum, with the aim of generating passive income for the state. This bill is currently awaiting further action.

This state-level push to adopt Bitcoin as a strategic reserve is part of a broader effort to diversify state assets and hedge against inflation. If successful, these initiatives could significantly increase demand for BTC.

Bitcoin Price Prediction: $150K+ by April Despite Recent Dip

While Bitcoin recently dropped below $102,000 following U.S. tariff announcements on Mexico, Canada, and China, analysts are still bullish on BTC's long-term trajectory.

CoinCodex AI prediction algorithm anticipates that BTC will reach over $150,000 by April 2025, despite a recent dip below $102,000 following U.S. tariff announcements on Mexico, Canada, and China.

This projection is fueled by several key factors, including increased institutional adoption, government support for crypto, and growing supply scarcity. Could this be the beginning of Bitcoin's next parabolic price run? Let's stay tuned to the latest developments and their implications for the future of crypto in the U.S.