Exciting News for Bitcoin: Rumors Swirl of U.S. Bitcoin Strategic Reserve Announcement by Donald Trump at Bitcoin 2024 Conference
Rumors are buzzing after Trump's recent JPMorgan bitcoin revelation, with speculation that he may announce the creation of a U.S. bitcoin strategic reserve at the upcoming Bitcoin 2024 conference in Nashville. This move could potentially cause a significant surge in the bitcoin price, leading to what some are calling an "instant moon."
Markus Thielen, CEO of 10x Research, pointed out that the U.S. government currently holds around 212,000 bitcoin, valued at approximately $15 billion, compared to its $600 billion in gold reserves. This has sparked discussions about the possibility of the U.S. diversifying its portfolio by incorporating bitcoin.
Notable figures in the crypto community, such as Lark Davis and Michael Saylor, have also hinted at the potential for Trump to include bitcoin on the U.S. balance sheet. Additionally, there is speculation that Elon Musk could make a surprise appearance at the conference, further adding to the excitement surrounding the event.
While some remain skeptical about the likelihood of a U.S. bitcoin strategic reserve, others, like Dennis Porter and Simon Dixon, believe that it is inevitable. Ari Paul from BlockTower Capital has even suggested that the odds of this happening in the next four years are favorable, which could have a bullish effect on the medium-term bitcoin price.
In light of these developments, Trump has extended an invitation to a private fundraiser at the conference, with seats priced at nearly $845,000 per person. Conference organizer David Bailey has described Trump's speech as a momentous occasion for both bitcoin and society as a whole, hinting at the potential impact of this announcement on the future of cryptocurrency.
