Donald Trump’s bold plans to keep Bitcoin as a reserve in the US have inched closer to reality. According to Forbes on December 14th, Trump has now confirmed his intentions to create a U.S. bitcoin strategic reserve, while a prominent billionaire warns of an impending “debt crisis” that could cause the U.S. dollar to plummet.
The plans could give a huge bull run to the prices of Bitcoin, possibly making them hit new all time highs in the future.
Trump’s Bitcoin Reserve Plan To Soon Become Reality
According to Forbes, Trump’s victory in November caused the price of bitcoin to soar past $100,000, and the CEO of a significant Wall Street company acknowledged that bitcoin causes “FOMO.”
Since we don’t want China or anyone else to benefit, we’re going to do something amazing with cryptocurrency, was Trump’s ambition in the past.
“But we want to be ahead, and others are embracing it,” Trump told CNBC. In response to a query about whether the United States will establish a strategic reserve for bitcoin akin to its oil reserve, Trump stated, “Yes, I think so.”
Trump’s Bitcoin Reserve Plan
Then-Republican candidate Donald Trump stated at the Bitcoin 2024 conference in July that he would establish a “strategic national bitcoin reserve” and that bitcoin might surpass gold’s $16 trillion market capitalization.
This plan has seen light of day as well. During the 2025 legislative session, Florida plans to establish a strategic Bitcoin reserve, making it a major player in the cryptocurrency space.
The goal of the initiative, which is supported by Samuel Armes, president of the Florida Blockchain Business Association (FBBA), is to make the state a leader in the adoption of Bitcoin.
Bitcoin Price-Prediction: Will It Rally?
If Trump’s plans to become a crypto capital and have a Bitcoin reserve does come true, it will likely give Bitcoin the biggest boost ever. In this case Bitcoin could even cross the much anticipated $250K level.
According to current technical indicators, the Fear & Greed Index is currently at 83 (Extreme Greed), while the sentiment is bullish. Over the past 30 days, Bitcoin’s price volatility was 3.52%, with 16 out of 30 (53%) days being green.
The overall sentiment regarding Bitcoin price prediction is bullish as indicated by the technical analysis indicators. Out of all, 29 indicators indicate bullish signals, while 0 indicate bearish signals.
Bitcoin’s 200-day SMA is expected to rise over the course of the next month, reaching $75,663 by January 13, 2025. The short-term 50-Day SMA for Bitcoin is predicted to reach $106,026 during the same time.