Abbott also passed a companion bill that shelters the strategic Bitcoin reserve, alongside other state funds, from periodic 'fund-sweeps.'
Katie Hobbs, a Democrat, blocked the bill passed in April by both houses of the majority-Republican state legislature, sparking criticism.
Sebastian Bea, president of Coinbase Asset Management, believes a technical change to the way Washington accounts for its gold could unlock enough budget-neutral capital for a strategic Bitcoin purchase approaching $100 billion—years ahead of market expectations. In a 40-minute appearance on The Scoop with Frank Chaparro released Wednesday, Bea framed the idea as hiding in plain sight. “Sometimes the ideas are so big that people either can’t hear them or don’t want to hear them,” he said at the top of the interview. “But they’ve got to listen to this one.” By statute, the 261.5 million-ounce US gold hoard is still recorded at $42.22 per ounce—a valuation fixed in 1973. At Wednesday’s spot price of roughly $3,303, the gap between book value and market value is almost $900 billion. “So today, because of law, the US government still values gold that it holds in Fort Knox at $42 and change,” Bea noted. “If they were to just mark that to market, that’s an incremental 900 to … I heard a billion to a trillion dollars.” From Mark-To-Market To Bitcoin Bea’s central contention is that Congress could pass a short bill amending 31 U.S.C. § 5117, re-strike higher-denomination gold certificates, and credit the revaluation gain to a sovereign-wealth-style account at Treasury in line with US president Donald Trump’s executive order for a strategic Bitcoin reserve—without adding to headline federal debt. Related Reading: Bitcoin To Explode To $210,000 This Year, Says Quant Powerhouse Presto “When the revaluation occurs, that creates a $900 billion mark-to-market gain, which the Treasury could then take […] in a budget-neutral manner to go and buy a variety of things. We think probably including Bitcoin,” he said. His arithmetic mirrors Senator Cynthia Lummis’ BITCOIN Act, introduced earlier this year, which directs Treasury to acquire one million BTC (around $100 billion at prevailing prices) over five years while remaining deficit neutral. Bea argued that a US purchase of that size—about 5.5% of Bitcoin’s $1.8 trillion market capitalization—would almost certainly prompt other states to respond. “It’s hard to see a situation where other governments don’t feel compelled in some way to measure up,” he said, adding that the dynamic could resemble the “competitive situation” in gold, where central banks bought a record 1,037 tonnes last year. Related Reading: Bitcoin’s Net Taker Volume Turns Positive, New All-Time High Incoming? Central bank demand for gold is motivated by “the overall level of debt that they see and the concerns around the global economy,” Bea said. “So does it seem so crazy to maybe save in some Bitcoin at, say, a ninety-to-ten ratio, given the whole world is going online?” How Soon Is ‘Sooner Than Expected’? Bea would not commit to a precise timetable but told Chaparro that the legal change “could be this year.” He suggested the trigger could come from legislators seeking an offset for new outlays—or from Treasury itself if political momentum builds behind the Lummis bill. “As soon as you understand the pipes of how banks and how the government works,” he concluded, “you realize they can revalue gold and buy Bitcoin and still be budget neutral. And once that’s on the table, it’s really just a matter of political will.” At press time, BTC traded at $93,422. Featured image created with DALL.E, chart from TradingView.com
In the latest installment of the “Bitcoin Policy Hour,” a weekly podcast produced by the nonprofit Bitcoin Policy Institute (BPI), leading members of the organization discussed how a single policy decision by the United States government might catapult the price of Bitcoin to extraordinary new highs. According to Executive Director Matthew Pines, the world’s monetary framework has remained largely the same since 1973, when the global financial system pivoted away from a full gold standard. “When you think about the monetary system we currently live in,” he said, “it’s been around since 1973 and gone through a number of crises and evolutions, but the fundamental structure of it really hasn’t changed.” He then pointed out that because nations such as China have emerged as industrial, military, and financial heavyweights, the stability of that long-standing dollar-based system is under challenge in ways not seen in decades. Head of Policy Zach Shapiro added that concerns about losing trust in the US dollar and its reserve asset—the US Treasury security—have fueled discussions around alternatives. “If you want to talk about what else could be a reserve asset,” he said, “gold is an obvious candidate.” He added that since the United States froze Russia’s Treasury reserves last year, “there has been a feeling from central banks around the world that treasuries are becoming less of a neutral reserve asset… and so foreign governments have been stacking gold.” That could clear some runway for Bitcoin to replace or supplement gold’s historic role—especially if the Trump administration announces their first Bitcoin buy. Related Reading: This Bitcoin Pullback Mirrors 2017’s Path To Parabolic Highs, Says Analyst When asked about the longstanding policy idea of “marking gold to market” and using the proceeds to buy Bitcoin, Shapiro explained that formally revaluing America’s statutory gold price—still set by law at around $42 per ounce even though world markets trade gold above $3,200—could generate what he called a “large surplus on Treasury’s books that we could then spend on stuff.” He mentioned that if those proceeds were directed into Bitcoin, “it would be a one-time trick that adds almost a trillion dollars to our balance sheet on paper. But why are we doing that and why do we think now is the time?” Pines emphasized the global implications. “The gold certificates are a subplot in this larger strategic competitive dynamic,” he said, referencing ongoing trade friction and technology restrictions between the US and China. “When you have the great powers of the world deciding they’re going to up the ante against each other, you’ll see moves in many domains: tariffs, export controls, currency systems, and yes, monetary assets such as gold and Bitcoin.” Discussion then turned to a White House executive order issued in March that formalized the Strategic Bitcoin Reserve and instructed agencies to conduct a Bitcoin audit, with results due to the President’s Working Group on digital assets. Pines noted that “it literally said Bitcoin is digital gold, is in our strategic interest, and that we need a strategic Bitcoin reserve,” even though, in his words, “people outside the US government at first questioned whether that was real or just a campaign promise.” Related Reading: Bitcoin Price Forecast: What Experts Anticipate Following The Jump Toward $85,000 Shapiro confirmed the White House did indeed require each agency to identify which digital assets it currently owns from forfeiture or other means. “By statute, they had thirty days to do this,” he explained. “But that report goes to the Secretary of the Treasury and the President’s Working Group, not necessarily the public.” While the White House order also urged budget-neutral methods of acquiring new Bitcoin, no single agency has yet outlined exactly how they intend to do it. Both Pines and Shapiro said that internal government debates, as well as confusion about what “budget neutral” means, might slow implementation. “It can’t impact other budget line items,” said Shapiro. “But tariffs, for instance, are not something that costs the American taxpayer money directly, and that’s one way that’s been floated to raise funds for Bitcoin. Selling assets already on the government’s balance sheet is another. That’s budget neutral too.” If the Trump administration does indeed buy Bitcoin, the price implication could be massive, according to the BPI. Shapiro stated: “If the United States announces that we are buying a million Bitcoin, that’s just a global seismic shock. I think that really is a big deal. I think first the Bitcoin price goes through the roof. I think we will probably go very quickly to something like a million dollars per Bitcoin.” However, the geo-political could be even greater, Shapiro added: “Then you have to wait and see what sort of dominoes fall from that. What are the second order effects of Bitcoin, just being monetized on a faster trajectory than I think a lot of people anticipate. The first is a sort of reaction from other nation states’ reactions […] I suspect that Bitcoin being monetized that strongly and that quickly would have a negative impact on sort of the long-term outlook for gold.” At press time, BTC traded at $83,594. Featured image created with DALL.E, chart from TradingView.com
Crypto detective ZachXBT alleged that the mysterious “Hyperliquid whale” that’s been making headlines across the crypto community is suspected to be a convicted criminal from the UK. The trader has made around $20 million in profit from leveraged trading, raising questions about their identity. Related Reading: Bitcoin To Get ‘Interesting’ As Price Retests $85,000 – Here Are The Levels To Watch Mysterious Hyperliquid Whale Not A Crypto Insider On Thursday, ZachXBT shared an investigation revealing the “Hyperliquid Whale” as a British hacker previously charged with multiple crimes. The trader’s identity has been a hot topic among crypto investors over the past few weeks. According to the X thread, the trader was identified as William Parker, known as Alistair Packover, before he changed his name. Parker was arrested and sentenced in Finland in 2024 for stealing nearly $1 million from two online casinos in 2023. Since January 2025, the trader has made millions by opening several highly leveraged positions on Hyperliquid and GMX but gained attention this month for two specific trades. Right before US President Donald Trump’s “Strategic Crypto Reserve” announcement on March 2, the whale opened a large Ethereum (ETH) and Bitcoin (BTC) long position on 50X leverage using address 0xe4d3. Following this trade, the crypto community speculated that the whale could be an insider, with some users alleging that the trader was linked to the Trump family due to their timing. Meanwhile, others suggested that the mysterious whale was tied to the North Korean hacking group Lazarus. The trader later opened a BTC short position on 40X leverage using address 0xf3F4, profiting $19 million from the two positions. After the whale closed its short position earlier this week, the crypto sleuth revealed that the trader was allegedly involved in illicit activity. “It’s funny watching CT speculate on the ‘Hyperliquid whale’ when in reality it’s just a cybercriminal gambling with stolen funds,” he initially responded to the speculation. Connecting The On-Chain Dots In the thread, ZachXBT shared four key counterparties of the 0xf3f address, including 0xe4d3, which he had identified. He also noted that the cluster was tied to Roobet, Binance, Gamdom, ChangeNOW, Shuffle, Alphapo, BC Game, and Metawin accounts. Additionally, the 0xf3f signed a message on-chain with an X account under the username @qwatio, which has seemingly been purchased recently. After the crypto detective’s initial claims, the X user denied the cybercrime allegations and claimed the $20 million profits from the GMX and HL trades were clean and traceable on the blockchain. However, the on-chain investigator alleges that “he would have to control the related wallets in this cluster for the $20M number to be accurate.” Notably, an address in the cluster, 0x7ab, was found to have received funds from a phishing scam and an exploited casino game on Solana. Related Reading: SUI Ready For 15% Move Amid Key Level Retest – Breakout Or Breakdown Ahead? Then, ZachXBT tracked down a recent payment from 0xe4d3 and obtained a UK phone number that seemingly connects the trader and the name William Parker. I tracked down a recent payment from 0xe4d3 to an unnamed person who confirmed they had been paid by the HL trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number. The crypto sleuth concluded that Parker, who was also convicted three times in the early 2010s for crimes related to fraud, hacking, and gambling, has now “gambled 6 figs into $20M using high leverage on-chain” for the past two months, and will likely continue to do so. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin has extended its decline below $90,000 as on-chain data shows whales selling off in massive amounts. This price decline comes amidst the otherwise bullish news of Donald Trump signing an executive order for a Strategic Bitcoin Reserve (SBR). The lack of bullish momentum despite this has brought into play the possibility of an extended bearish move from here. A well-known crypto analyst, Doctor Profit, has raised alarms about an impending major correction in Bitcoin’s price. In a detailed post on social media platform X, he outlined his reasons for this shift, arguing that the current market conditions signal the start of the first large Bitcoin correction of this cycle. Strategic Bitcoin Reserve: A Misinterpreted Narrative? Popular crypto analyst Doctor Profit revealed that he is selling a significant portion of his holdings and entering short positions. Notably, the analyst pointed to the recent news surrounding the Strategic Bitcoin Reserve as a key factor that led him to reevaluate his bullish stance. He emphasized that while retail investors see this as a game-changing development, large players and whale investors have already priced in the impact. Related Reading: Legendary Analyst Peter Brandt Lists 6 Reasons Bitcoin Has Flipped Bullish Many crypto investors expected an accumulation of Bitcoin by the US government in order to strengthen the reserve. However, instead of the expected ensuing buying pressure on Bitcoin, the executive order focused on Bitcoin confiscated from previous seizures, which left bullish investors underwhelmed. According to Doctor Profit, the decision to sign off on this policy earlier than anticipated signaled a shift in market dynamics. His expectation was that this move would materialize months later, allowing Bitcoin’s price to sustain upward momentum before the first significant correction. Instead, he now sees this as the primer for a long-term decline. Is This The Beginning Of Bitcoin’s First Big Correction? Price Levels To Warch Doctor Profit firmly believes that Bitcoin has yet to experience a proper correction in this cycle, noting bull market trends where the asset has seen at least one 40-50% drop before reaching new all-time highs. He sees the recent developments as the final push before a 40% to 50% decline. As such, the analyst noted that this is the ideal window for distributing sell orders and entering short positions. Related Reading: Inverse Head And Shoulders Breakout Suggests Bitcoin Price Is Headed To $300,000 His outlook suggests a retracement to as low as $50,000–$60,000 before Bitcoin resumes its long-term bullish trajectory. Breaking down his trading strategy, he disclosed that he has already sold 50% of his Bitcoin holdings, which he accumulated at $16,000. He has placed short orders within the $90,000–$102,000 range, with target profits set at $74,000 for the first take-profit level, followed by a complete exit in the $50,000–$60,000 region and a full buyback to double holdings. Despite his short-term bearish outlook, the analyst maintains that Bitcoin will eventually rally to new highs in the $120,000–$130,000 range. At the time of writing, Bitcoin is trading at $86,530. Featured image from Unsplash, chart from Tradingview.com
MicroStrategy founder and executive chairman Michael Saylor suggested that the United States might purchase one million Bitcoin for its strategic reserves. His remarks came during an interview with FOX Business ahead of Friday’s White House Crypto Summit, to be hosted by US President Donald Trump. Saylor, whose company is widely known for its significant Bitcoin holdings, confirmed that MicroStrategy owns approximately 500,000 of the digital tokens, accounting for “about 2.4% of the worldwide supply.” He is one of several crypto-industry figures expected to join the presidential roundtable that will advise the administration on digital asset policy. Will Trump Buy 1 Million Bitcoin? When asked how the government would finance such a large crypto reserve, Saylor pointed to a deliberate, multi-year timeline, referencing a “six-month process” set out by the recent executive order. He added: “There are 12 members on the presidential working committee. There’ll be involvement from the industry. There’ll be involvement from the Senate and from the house and I and it’s above my pay grade to decide how it is determined.” Related Reading: Bitcoin’s ‘KISS Of Death’? Arthur Hayes Warns Of Recession Before Surge According to Saylor, “the longest bill [by Senator Lummis] has laid out the idea of acquiring Bitcoin strategically over four years, just consistently day by day in order to reach a million Bitcoin target.” Currently, the US government is believed to hold 200,000 BTC—worth an estimated $17 billion at today’s prices. Should it proceed with additional large-scale purchasing, the effect on the price of Bitcoin could be considerable. However, Saylor argued that the most “responsible” approach would be “to go slow and steady and deliberate with clear telegraphing and transparency” rather than making abrupt acquisitions that could roil the market. Central to Saylor’s stance is the classification of Bitcoin as “digital property,” an asset without a central issuer. “The real key about Bitcoin is for people to understand that it’s a digital property. It’s a savings account that empowers every single American to save their wealth and preserve it over time,” Saylor explained. He emphasized that if the US government provides clarity around this status, it could instill greater confidence in citizens to consider cryptocurrencies a legitimate savings vehicle. Related Reading: Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad? In discussing whether taxpayer money should be used to purchase Bitcoin, Saylor drew a distinction between different digital assets. While Bitcoin (as a “digital commodity”) is, in his view, well-suited for strategic reserves, he also acknowledged the importance of digital currencies (stablecoins), tokenized securities (for capital efficiency), and token-based utility projects. Nevertheless, he singled out Bitcoin as the prime candidate for a national reserve, calling it “the one universally agreed-upon foundational asset in the entire crypto economy.” ???????? MICHAEL SAYLOR HINTS THE USA WILL BUY 1 MILLION #BITCOIN FOR ITS RESERVE ???? IT’S HAPPENING ???? pic.twitter.com/jr73piPfNY — Vivek⚡️ (@Vivek4real_) March 5, 2025 Saylor also addressed skeptics who question the rationale for a national Bitcoin reserve compared to more traditional strategic reserves such as oil or medical supplies. He compared Bitcoin to property, invoking a historical analogy: “We bought 75% of this nation with about 40 million dollars […] We bought Louisiana. We bought California. We bought Texas. We bought Alaska. It’s property. If you think of Bitcoin as property in cyberspace and you say where is all the money in the world headed? Well, it’s headed from foreign countries […] It wants to go from the physical world to the digital world.” For those concerned about the fundamental ethos of Bitcoin as a decentralized asset with no government involvement, Saylor insisted that official adoption need not contradict the cryptocurrency’s original design. “Satoshi gave us a process, a protocol for prosperity. That’s what we call Bitcoin,” he said. While early adopters may have favored minimal regulation, Saylor believes nation-states “interested in economic empowerment and prosperity” will inevitably follow individuals and corporations into the digital domain. At press time, BTC traded at $91,725. Featured image from YouTube, chart from TradingView.com
Many industry leaders argue Bitcoin alone should be the basis of a strategic reserve, given its decentralized nature and global acceptance.
Arthur Hayes, the co-founder of BitMEX, has strongly opposed the proposed US Strategic Bitcoin Reserve (SBR), calling it a misguided initiative. In a Feb. 6 blog post, he argued that the reserve plan and a looming regulatory bill would do more harm than good for the crypto industry. Argument against SBR Hayes criticized the US […]
The post Arthur Hayes warns US Bitcoin reserve plan would be a misguided political stunt appeared first on CryptoSlate.
In his latest essay entitled “The Genie,” crypto entrepreneur and former BitMEX CEO Arthur Hayes denounced calls for a United States Bitcoin Strategic Reserve (BSR), warning that such a program would create “unnecessary pain in under two years” and transform the world’s largest cryptocurrency into a potent political weapon. Hayes also cautioned the industry against pursuing what he deems to be an overcomplicated “Frankenstein crypto regulatory bill,” which, he argues, would primarily benefit large centralized institutions rather than foster true decentralization. A “Terrible Idea” For Bitcoin? Hayes questions both the feasibility and the long-term consequences of establishing a national Bitcoin stockpile. He argues the US government would be motivated by politics rather than sound financial strategy, potentially leading to manipulation of the Bitcoin market. In his view, a BSR risks becoming a mechanism for politicians to raise funds for unrelated agendas: “Let’s assume that Trump is able to create a BSR. The government buys one million Bitcoin, as suggested by US Senator Lummis. Boom! The price goes nuts. Then, the buying concludes, and the up-only trend channel stops.” Related Reading: Bitcoin to $500,000? Standard Chartered Exec Predicts Massive Surge By 2028 Hayes envisions a subsequent administration—one hostile to Bitcoin or crypto in general—deciding to liquidate this enormous reserve. “What if [the Democrats] got a veto-proof majority in the House of Representatives? By 2028, what if a Democrat won the election … finding easy piles of cash to spend on goodies for their supporters is the first directive. There are one million Bitcoin just sitting there, ready to be sold… The market would rightly fear when and how these Bitcoin would be sold.” Another of Hayes’ key contentions is that regulation shaped by special interests could inadvertently stifle the very innovation it aims to promote. According to Hayes, large exchanges and financial intermediaries with the resources to influence lawmakers are more likely to drive regulatory outcomes. This, he suggests, will burden smaller innovators and strengthen the position of major centralized players: “The crypto regulatory wishes likely to be granted… will be in the form of overly complicated, prescriptive rules that only large and wealthy centralized companies can afford… Is that what the broader crypto community actually desired from the genie? … Maybe those readers who are shareholders of Coinbase and BlackRock want a Frankenstein crypto bill. But I believe this type of regulation does nothing to alter the status quo.” An Alternative Proposal Rather than a BSR, Hayes proposes a more radical and complex financial arrangement involving the US Treasury, Bitcoin, and “century bonds” (100-year zero-coupon bonds). His idea is for the US to unilaterally devalue its existing Treasury obligations by announcing that Bitcoin will replace sovereign debt as the neutral global reserve asset. Related Reading: Why Bitcoin Wins No Matter The Outcome Of Trump’s Trade War The plan, in his own words, would involve a public statement from US Treasury Secretary Scott Bessent, declaring the intention to use Bitcoin as the reserve asset while retaining the US dollar as the invoicing currency. Afterward, the Dollar would undergo a progressive devaluation, with the US Treasury bidding for Bitcoin at increasingly higher prices while issuing century bonds instead of immediate cash payouts. The next step would be extending the maturity of Treasury debt, with the Treasury selling Bitcoin at a profit to buy back and retire shorter-term obligations, ultimately pushing US debt maturity to 100 years. Additionally, global USD adoption would be accelerated through stablecoin transfers on social media platforms like Facebook and X, enabling everyday users to participate in US bond markets—bypassing conventional banking intermediaries. “That’s it for the financial history… The additional new goal is to make Bitcoin the global neutral reserve currency,” Hayes explains. He believes such a strategy could restore US hegemony by transitioning from the traditional “petrodollar” or “Treasury-based” system to one anchored in Bitcoin, all while ensuring large swaths of Bitcoin’s mining operations remain within US borders. In a more cautionary afterword, Hayes highlights that crypto voters played a notable role in returning Donald Trump and the Republican Party to power. Yet he stresses the slow pace of action on crypto issues, contrasting it with the administration’s rapid implementation of tariffs and rollbacks of environmental, social, and governance (ESG) mandates. “When Trump wants to act, he acts… The removal of ESG and DEI policies… came swiftly… That’s a shame because on the margin, the crypto single-issue voter put [the Republicans] in power.” He also reiterates his forecast that Bitcoin could see a sharp correction to a range of $70,000 to $75,000 before rallying higher in the long-term —if there is no immediate, concrete legislation favoring permissionless innovation or further monetary stimulus. For now, Hayes urges those “lining up day after day dressed in a seersucker suit or block heels and a summer dress hoping to ask the orange genie for a wish” to think carefully: “Stacking sats is my game, and I hope yours is too. Therefore, if you find yourself at the genie’s table… please wish for the right things.” At press time, BTC traded at $98,190. Featured image created with DALL.E, chart from TradingView.com
Two US states—Arizona and Utah—are making significant progress in integrating Bitcoin into their state portfolios. This week, both states have advanced legislative efforts that could position them as pioneers in adopting digital assets for public funds. Arizona’s momentum Arizona is pushing to become the first U.S. state to invest public funds in Bitcoin. On Jan. […]
The post Arizona and Utah make legislative strides towards Bitcoin reserves appeared first on CryptoSlate.
The US Securities and Exchange Commission (SEC) announced on Thursday, January 23, the rescission of Staff Accounting Bulletin (SAB) No. 121, a directive that had imposed stringent accounting requirements on crypto custody for US banks and financial institutions. The move, encapsulated in the newly issued SAB 122, is poised to serve as a more substantial catalyst for Bitcoin’s price dynamics than the anticipated US Bitcoin Reserve (SBR), according to several industry experts. Implications For Bitcoin Originally enacted in 2022, SAB 121 mandated that banks classify customer-held cryptocurrencies as liabilities on their balance sheets. This classification significantly increased the operational costs and complexities for financial institutions, effectively deterring them from offering crypto-related services. Thus, the requirement acted as a barrier, limiting the integration of Bitcoin and other cryptocurrencies into mainstream banking operations. Related Reading: Bitcoin Capital Inflows See Notable Slowdown, But Is This A Worry? The withdrawal of SAB 121 through SAB 122 effectively removes this accounting impediment. SEC Commissioner Hester Peirce lauded the decision on social media, stating, “Bye, bye SAB 121! It’s not been fun: http://SEC.gov | Staff Accounting Bulletin No. 122.” The Bitcoin community has responded favorably to the SEC’s decision. Andrew Parish, founder of x3, emphasized the significance of SAB 122 on X, asserting, “Rescinding of SAB 121 is a bigger catalyst for Bitcoin than the SBR. Bookmark this post.” Similarly, Fred Krueger, founder of Troop, highlighted the broader market implications, noting, “SAB 122 is extremely good for Bitcoin. More significant than the Bitcoin Reserve, which is also coming. Now watch the Banks start accumulating.” Vijay Boyapati, an Ex-Google engineer and the author of The Bullish Case for Bitcoin, further elaborated on the transformative potential of the SEC’s action, stating, “It really is hard to emphasize how huge a sea change we’re witnessing. We went from the worst conceivable anti-Bitcoin, anti-innovation, anti-growth, anti-business administration to the most friendly Bitcoin administration you could hope for. This is 100% not priced in.” Related Reading: Bitcoin Price Aims For $150,000-$170,000 With Wave Formation, Here Are The Details Michael Saylor, Executive Chairman of MicroStrategy, succinctly captured the market sentiment with his tweet: “SAB 121 has been rescinded, allowing banks to custody Bitcoin. ????” This aligns with Saylor’s previously outlined tgree catalysts for Bitcoin reaching $1 million per coin, where the facilitation of traditional bank custody stood as last open m factor. The regulatory easing is expected to catalyze increased institutional participation in the BTC and crypto market. Brian Moynihan, CEO of Bank of America—the second-largest US bank by assets—addressed the potential for broader crypto adoption during an interview with CNBC’s Andrew Ross Sorkin at the World Economic Forum in Davos, Switzerland. Moynihan stated, “If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it.” This statement aligns with the SEC’s latest directive, indicating that banks are now more likely to develop and offer crypto services, including custody solutions, which were previously constrained under SAB 121. The removal of these regulatory hurdles is anticipated to enhance the liquidity and accessibility of Bitcoin, potentially driving a new wave of demand similar to the spot ETFs in January last year. At press time, BTC traded at $105,466. Featured image created with DALL.E, chart from TradingView.com
President Trump's move to gauge creating a potential crypto stockpile leaves open questions on what it is and what happens next.
In a move that dashed high-flying expectations, US President Donald J. Trump ended his first day in office without issuing any crypto-related executive orders or referencing the much-touted Strategic Bitcoin Reserve he had teased during the Bitcoin 2024 conference in Nashville. Bitcoin’s price, which had surged to nearly $110,000 on hopes of a landmark announcement, retreated swiftly once it became clear the inauguration address would offer no explicit nod to digital assets. What Next For The Bitcoin Price? Now, with BTC hovering in what analysts describe as no-man’s land, the market looks to the White House for any indication that Trump’s earlier pro-Bitcoin rhetoric might translate into action. Crypto analyst CRG (@MacroCRG) encapsulated the uneasy sentiment on X , claiming that “crypto feeling a bit directionless” could quickly change if Trump simply mentions Bitcoin. Related Reading: Analyst Says Bitcoin Price Could Retest Substantially Below $100,000 If This Level Fails CRG argued, “but all its gonna take is 1 mention from Trump and it sends IMO. Trump’s team bought 9 figs of crypto yday, won’t be long until they start blasting hopium.” Some observers maintain that Bitcoin’s overarching technical indicators remain favorable. Markus Thielen, a researcher at Matrixport, commented on X that “since mid-November, Bitcoin has been trading within a narrowing wedge,” stifled by conflicting signals—ranging from higher inflation data to hopes of a supportive White House. Related Reading: 1 Million Bitcoin Pulled From Exchanges In The Past 3 Years: What It Means For The BTC Market According to Thielen, Trump’s inauguration served as a catalyst for Bitcoin to break out of that wedge, but whether this breakout can hold depends on BTC maintaining support around the upper boundary. “Bitcoin is now retesting the breakout level, which corresponds to the upper boundary of the wedge. If Bitcoin holds above this key support, the short-term outlook remains highly bullish, with the breakout signaling renewed upward momentum,” Thielen writes. Renowned analyst Rekt Capital (@rektcapital) pointed out on X that Bitcoin managed to retest key levels, notably at $101,000. While the market saw a harsh rejection from its range high, Rekt Capital emphasizes that this retest of both the “red diagonal” and the “black Range Low” is a strong sign that BTC might consolidate in the $101,000-$106,000 corridor before potentially marching higher again. Meanwhile, trader Crypto Chase (@Crypto_Chase) hinted at a willingness to go long if Bitcoin dips to around $99,500. He noted: “I’d take a long from 99.5K~ if offered. I think gray box needs to hold for local bullishness and sweeping all the Trump leadup / news PA makes sense. I’d also accept a sweep of the 97K low, but that’s farthest it should go. Any good amount of time spent past 96-97K and my plan / read is likely off. Inval low 90’s, aiming for new ATH’s. 3R~ trade.” Despite Wednesday’s disappointment, many believe the president’s pro-Bitcoin stance remains intact. David Bailey, CEO of BTC Inc. and a key figure in Trump’s shift toward a more Bitcoin and crypto-friendly position, took to X today, revealing: “Got confirmation tonight that our EOs are among the first 200. I have no idea what made it in, but good news cometh.” Bailey also stated these include “EOs related to Bitcoin or crypto,” leaving open the possibility of a sudden policy bombshell. Should such an order materialize, markets could quickly pivot back into bullish territory. For now, however, traders and investors remain in limbo, awaiting that elusive official statement or executive order—from the White House that might reignite Bitcoin’s momentum. At press time, BTC traded at $103,182. Featured image created with DALL.E, chart from TradingView.com
As the new crypto-friendly administration takes office, crypto investors expect a likely volatile market. However, some analyst shared their bullish predictions as Bitcoin (BTC) hit its latest all-time high (ATH) of $109,000. Related Reading: $24 XRP Prediction: Bitcoin Maxi Calls It Risky But Possible Bitcoin Hits New ATH On Inauguration Day Last week, Bitcoin surged past the $100,000 barrier for the first time in over ten days amid the bullish expectations of January 20. The flagship crypto continued consolidating above this key level over the weekend, fueled by US President Donald Trump’s latest crypto moves. On Friday, the incoming US President surprised the crypto industry by launching his official TRUMP memecoin. The token saw a massive surge, hitting a $75 all-time high (ATH) and a market capitalization of $15 billion but facing significant backlash from the crypto community. As the token eclipsed the market, Bitcoin turned the key $102,000 resistance level as a support zone, propelling the price to a one-month high of $106,000. However, the market saw a 6% correction on Sunday afternoon after the then-incoming First Lady launched her memecoin, MELANIA. BTC dropped below the $100,000 mark before quickly recovering, closing the week near the recently reclaimed level. Ahead of Trump’s inauguration, Bitcoin’s price jumped 8.5% to its new all-time high of $109,588. Daan Crypto Trades noted BTC’s good start to the week after it “opened up with a small CME gap today but closed that straight away and went straight to new all-time highs,” adding that it will be an interesting week. Daan also signaled that today would likely be a “very volatile day in both directions” for the market but advised investors to “focus on what you expect for Q1 and not the next day.” BTC Price To Continue Soaring? Crypto analyst Altcoin Sherpa suggested that BTC’s price could see short-term volatility depending on Trump’s comments during his Inauguration speech. “If a Strategic Bitcoin Reserve is announced, I think BTC puts in a god candle, and everything sends,” he stated, adding that a lack of mention could start a momentary pullback. Despite the potential short-term shakeouts, some analysts highlighted that Bitcoin is entering a new price discovery phase. Rekt Capital stated, “History suggests this first Price Discovery Correction is now over.” According to the analyst, the December retrace was part of BTC’s “post-halving Parabolic Upside Phase.” Bitcoin enters a parabolic period that lasts around 300 days, each cycle after every Halving event, with the first price correction historically beginning between Weeks 6 and 8 of each parabolic phase. Related Reading: Solana Bulls Counter Bearish Pressure To Keep Price Above $240 After the recent price action, the analyst announced the second Price Discovery Uptrend lies ahead. He explained that “Bitcoin is now trying to breakout from its $101k-$106k range Daily Close above the $106k Range High resistance followed by a post-breakout retest would confirm the breakout and bring Bitcoin one step closer to additional Price Discovery.” Analyst Crypto Jelle highlighted BTC’s multi-year cup and handle pattern, which “looks like Bitcoin wants to get it over with.” The analyst suggested that the flagship crypto won’t “be waiting much longer,” adding that the long-term target remains $140,000. As of this writing, Bitcoin trades at $104,564, a 1% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
In a significant move amid the growing adoption of Bitcoin (BTC) and digital assets, Oklahoma has become the sixth US state to introduce a “Strategic Bitcoin Reserve” policy. This initiative aims to allow the state to purchase Bitcoin once the legislation is passed, reflecting a broader trend as states across the nation explore similar proposals […]
Neutral in the short-term, bullish in the long-term. With that view in mind, pro traders explain that a certain “player versus player” mindset is at play in the crypto market this month.
The Bitcoin Act’s passage could eventually send BTC’s price past $1 million per coin, industry executives say.
According to Satoshi Action Fund CEO Dennis Porter, the North Dakota BTC bill “already has 11 sponsors.”
Republican state senator Dusty Deevers recently introduced a bill allowing Oklahoma employees and residents to opt to receive salaries in Bitcoin and enable businesses to accept BTC payments. Related Reading: South Korea To Ease Institutional Crypto Investment Restrictions This Year Oklahoma Senator Introduces Bitcoin Freedom Act On January 8, Senator Dusty Deevers announced the Bitcoin […]
Bhutan’s Gelephu Mindfulness City wants to set up a strategic reserve with several established cryptocurrencies.
Dennis Porter, co-founder and chairman of the 501(c)(4) non-profit Satoshi Action Fund, has revealed a significant development in US state-level Bitcoin initiatives. On December 7, via X, he declared, “A 14th state is now poised to introduce ‘Strategic Bitcoin Reserve’ legislation.” Previously, Porter had disclosed that he was working with 13 different states on proposals […]
According to several reports, Canadian Prime Minister Justin Trudeau may soon step down, potentially opening the door for a more Bitcoin-friendly government. According to Reuters, Trudeau is “increasingly likely to announce he intends to step down,” although no final decision has been made. A source familiar with the matter told the news agency that the […]
Multiple Chilean lawmakers are currently pushing for legislation that would establish a Strategic Bitcoin Reserve (SBR), according to details shared by nation-state mining lobbyist Andrés Villagrán. Revealing his progress via X, Villagrán explained that he has been meeting with numerous officials to advocate for BTC’s potential economic benefits. Chile’s Path To Bitcoin Adoption “In 2023, […]
Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), announced at Michael Saylor’s $100K New Year’s Eve Bitcoin Party in Miami that a US state is on the brink of initiating BTC purchases within the next four months. Bitcoin Adoption By US State Imminent During the event, Porter addressed a series of questions […]
At Michael Saylor’s high-profile New Year’s Eve $100,000 Bitcoin party in Miami, Simon Gerovich, President and CEO of Metaplanet—often dubbed as Japan’s MicroStrategy—shared his insights on the evolving landscape of BTC adoption among governments and corporations. In an exclusive interview, Gerovich outlined the potential global implications if incoming US President Donald Trump moves forward with […]
Anthony Scaramucci, founder of SkyBridge Capital and author of the upcoming The Little Book of Bitcoin, has voiced his belief that a sizable government purchase of Bitcoin—potentially as much as 500,000 BTC—will advance through the US Senate. Speaking on the Bankless podcast with host Ryan Sean Adams, Scaramucci suggested that top lawmakers are aligning to […]
Although the US dollar has lost over 90% of its value since 1913, it continues to dominate all other fiat currencies as a store of value.
Everyone’s heard “Not your keys, not your coins.” Unchained head of research Joe Burnett explains how investors can protect their Bitcoin.
VanEck has said a US Bitcoin reserve could majorly slash the national debt if the cryptocurrency grows to $42.3 million a coin by 2049.