Main points
- Adam Baker Prediction Bitcoin price could rise 11x, surpassing $1 million per coinif the United States creates a national BTC reserve.
- During his campaign, Trump pledges to build strategic Bitcoin reservecould spark a global race for Bitcoin adoption.
- Countries such as El Salvador and Bhutan already hold Bitcoin reserves, and the leaders of these countries Argentina and Poland hint at similar moves.
- Despite enthusiasm among Bitcoin advocates, legal and logistical uncertainties remain Markets skeptical of U.S. adoption of Bitcoin as reserve asset.
Adam Back (founder of Blockstream and one of the early adopters of Bitcoin) believes that if the United States establishes a national strategic Bitcoin reserve, FOMO is sweeping the world.
Buck believes the move will accelerate governments’ adoption of Bitcoin as a reserve asset. This trend is already gaining traction in U.S. states such as Florida and Florida. pennsylvania.
In addition, the government’s move Could spark a ‘race’ to other countries adopting Bitcoin It has even prompted China to reconsider its anti-crypto stance.
Bitcoin strategic reserve
During his campaign, Donald Trump promised to create a national strategic Bitcoin reserve. Adam Back predicts that if this promise comes true, the price of Bitcoin could increase by at least 11 times.
He wrote on his X account that if the US strategic Bitcoin reserve becomes a reality, “Get ready for seven-digit Bitcoin this cycle.”
Even before the United States took action, Countries such as El Salvador and Bhutan have established strategic reserves of Bitcoin. In Poland, presidential candidates have also expressed interest in adopting Bitcoin as a reserve asset.
In Latin America, Trump’s potential move could be copied by Argentine President Javier Milley. He is strongly aligned with U.S. policy and Repeatedly advocated for nationwide adoption of Bitcoin.
A skeptical market could be bad news for Bitcoin
Barker also explained that the market remains skeptical that the United States will seriously consider a Bitcoin strategic reserve.
The US Bitcoin Strategic Reserve is gearing up for 7-digit Bitcoins. This cycle. The market is currently skeptical of meaningful follow-through, so this one simply isn’t priced in.
The Blockstream CEO also mentioned Trump’s promise that the U.S. Can use confiscated Bitcoin Or buy new ones specifically for reserves.
However, Bitcoins confiscated in cases such as the FTX or Bitfinex hacks legally belong to the victims, making it unlikely that governments will obtain judicial approval to retain these BTCs.
Senator Cynthia Lummis endorsed the proposal and recommended that the U.S. Gold can be sold to buy 1 million Bitcoins.
Nonetheless, there are still Lots of speculation but few concrete details About how that reserve will work. Furthermore, Trump needs to be inaugurated to deliver on his promises.
Passionate Bitcoin Enthusiasts Anticipate Bitcoin FOMO
Despite the uncertainty, Bitcoin enthusiasts like Adam Back remain optimistic. In reply to another X user, he explained that if the United States implemented such a reserve, FOMO will take over the global market.
According to him, extreme caution is required to effectively acquire 1 million Bitcoins, possibly through an OTC (over-the-counter) desk.
If Baker’s prediction comes true Bitcoin’s value could increase by at least 11 times current pricemore than $1 million.
Can Bitcoin reach $1 million?
Adam Baker thinks The United States may trigger a global Bitcoin frenzy by building strategic reserves.
The move will accelerate Bitcoin’s global adoption and potentially push its price to $1 million this cycle. Barker said this could have a domino effectprompting countries such as China to reassess their stance on cryptocurrencies.
Despite widespread skepticism about U.S. dollar Bitcoin reserves (due to legal challenges and lack of concrete plans), Industry leaders remain confident.
Will the United States become a leader in Bitcoin? Will Trump bring about the much-anticipated crypto revolution?
The coming weeks and months should provide answers.
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