Bitcoin Soars Towards $110,000 As Reserve Rumors Heat Up

4 months ago

Bitcoin has surged to a caller all-time precocious of $109,558 during aboriginal Asian trading hours, aligning with President Donald Trump’s inauguration day. Market observers constituent to the heightened anticipation that Trump mightiness found a Strategic Bitcoin Reserve (SBR) done an enforcement order—one of perchance 100 helium could motion instantly upon taking office.

Is A Strategic Bitcoin Reserve Coming?

Talk of a US Bitcoin reserve nether Trump has circulated for months, but speculation intensified erstwhile Polymarket, a crypto-based prediction platform, showed a abrupt spike successful the likelihood of specified a reserve forming wrong Trump’s archetypal 100 days. The odds, which deed 59%, rapidly preceded Bitcoin’s pump to its caller peak.

Will Trump make Bitcoin reserve successful archetypal 100 days?

In the past, Trump campaigned connected perchance transferring each seized BTC by instrumentality enforcement into a government-held reserve. Although determination has been nary authoritative confirmation, rumors that a ceremonial bid could beryllium signed “as aboriginal arsenic Inauguration Day” ignited terms momentum.

Notably, respective influential Bitcoin advocates met with the incoming medication implicit the past weekend, fueling SBR speculation. Senator John Barrasso wrote via X (formerly Twitter) connected Sunday: “Senator Lummis and I had a large clip talking with President Donald Trump this morning. Wyoming is acceptable for Inauguration Day tomorrow!”

Senator Cynthia Lummis, known for her pro-Bitcoin stance, reinforced the chatter astir a government-led BTC initiative. In a Jan. 17 station connected X, she stated: “Working hard to get the Strategic Bitcoin Reserve and broad integer plus authorities crossed the decorativeness line. Thanks for stopping by @jespow, @arjunsethi, @DavidLRipley !”

Lummis’ ain legislative proposal, dubbed the “Bitcoin Bill,” famously proposes to acquisition 1 cardinal Bitcoin.
MicroStrategy Chairman Michael Saylor besides attended meetings with the Trump administration’s cabinet. He shared a photograph connected X of himself alongside Robert F. Kennedy Jr. and Jared Kushner, captioned: “The Future is ₿right”

Meanwhile, Eric Trump posted a representation with Saylor and “Crypto Czar” David Sacks, commenting: “To the moon! 🚀🚀 #Bitcoin @WorldLibertyFi @saylor @DavidSacks”

Further underscoring the White House’s evident openness to Bitcoin, Fred Thiel, Chairman and CEO of MARA Holdings (NASDAQ:MARA)—one of America’s largest Bitcoin mining companies—was reportedly seated with the incoming US Secretary of Defense astatine the Vice President’s reception connected Saturday night.

MacroScope (@MacroScope17), a salient marketplace analyst, noted connected X: “Keep successful caput that the reports and photos we’re seeing of Trump and his incoming furniture engaging with BTC advocates (Scott Bessent astatine the crypto shot etc) are conscionable the extremity of what’s happening. Expecting tons of headlines to deed successful coming days, weeks and months. Unique concern successful the past of fiscal markets.”

David Bailey, CEO of BTC Inc, who played a notable relation successful encouraging then-candidate Trump’s pro-Bitcoin platform, referred to Trump’s caller foray into a idiosyncratic memecoin TRUMP arsenic “not my cupful of tea,” but emphasized gratitude for Trump’s pro-Bitcoin stance via X today.

“I volition proceed to bash immoderate I tin to enactment the President and his family’s clasp of Bitcoin and supply honorable counsel erstwhile called upon. America volition beryllium a Bitcoin and Crypto Superpower and the winning has lone conscionable begun.” When a idiosyncratic asked Bailey if definite large crypto-friendly actions—such arsenic freeing Ross Ulbricht, confirming a stockpile by enforcement order, and co-sponsoring Sen. Lummis’ SBR bill—would marque up for the TRUMP memecoin controversy, Bailey responded: “all those things volition hap and more”

Charles Edwards, CEO of Capriole Investments, observed that Bitcoin’s accelerated determination little followed by a swift rebound to caller highs could bespeak further gains. “Trust the 2nd move,” Edwards remarked, emphasizing that “when markets determination aggressively successful 1 direction, and reverse it each soon after, the 2nd determination has a higher probability of being the existent determination that sets the caller trend.”

He added that aft “a bully aged fashioned abbreviated squeeze,” investors realized the “overwhelming positivity” of the rumored developments—ranging from “higher likelihood of a BSR” to “the onboarding of the MAGA service into crypto.” Still, Edwards acknowledged that “anything tin happen” successful specified a volatile marketplace environment.

At property time, BTC traded astatine $108,182.