Odds of Strategic Bitcoin Reserve Launching in US This Year Soars 65%
The probability of the United States creating a Strategic Bitcoin Reserve this year has soared tremendously in recent weeks. Anthony Pompliano, the founder and CEO of Professional Capital Management, brought this development to the public today. The renowned American investor noted that the odds of a Strategic Bitcoin Reserve (SBR) going live in the United States this year soared to around 65% on Kalshi, an online prediction platform. He emphasized that this surge marks a 50% increment over the past few weeks. This reflects growing optimism among investors that the U.S. government will adopt Bitcoin as a reserve asset under Trump. https://twitter.com/APompliano/status/1880058576120779063?t=IRqaPndIV-LJGJy7lnUfWg&s=19Debates About Strategic Bitcoin Reserve Discussions about the creation of SBR stem from a pledge Trump made to crypto enthusiasts last year. As previously reported, the President-elect made this promise at the 2024 edition of the Bitcoin Conference in Nashville. In the same week, Senator Cynthia Lummis (R-WY) created a BITCOIN Act 2024 bill, giving investors a hint of what the reserve could look like. Under the proposal, Senator Lummis suggested that the U.S. accumulate 1 million BTC over five years. Specifically, she proposed that the government hold these 1 million BTC for at least 20 years. In parallel, the Bitcoin reserve debate went live on Kalshi, with investors betting on whether the initiative will launch this year. About 65% of Kalshi bettors are confident that the U.S. will create a strategic Bitcoin reserve before January 1, 2026. This confidence stems from the positive developments relating to this proposal. Trump Could Sign an Executive Order to Create Strategic Bitcoin Reserve According to reports, Trump might likely initiate the creation of an SBR using an executive order. Last year, the Bitcoin Policy Institute drafted an executive order regarding the SBR in anticipation of Trumps inauguration, scheduled for January 20. The draft recommended that the U.S. create a Bitcoin reserve under its Treasury Exchange Stabilization Fund (ESF). This would enhance the United States' economic security, promote domestic industry growth, and attract innovation. Interestingly, crypto stakeholders are lobbying the President-elect to sign an executive order mandating the creation of an SBR within the first 100 days of his administration. The New York Post recently confirmed that Trump will sign several executive orders, one of which focuses on establishing a national Bitcoin stockpile after his inauguration. Expectedly, investors are excited about this development, with many predicting that the SBR proposal will lead to a substantial rise in Bitcoins price. With Bitcoin currently up by 3.59% over the past day, the asset is trading at $102,693 per coin.
Text source: The Crypto Basic
