BTC/USD Golden Cross + Bitcoin Act: The Perfect Storm?
Now that Donald Trump is set to become the next president of the United States, the U.S. could soon build a strategic Bitcoin reserve.
This initiative, proposed under the pending “Bitcoin Act,” aims to let the U.S. government acquire up to 200,000 Bitcoin per year over five years, totaling up to 1 million BTC, or nearly 5% of the currency’s maximum supply. At current prices, this could cost over $80 billion.
The U.S. already holds around 200,000 Bitcoin, largely confiscated from criminals. Trump has pledged that under his administration, seized Bitcoin wouldn’t be sold.
The price of bitcoin is trading at a new fresh record high above the $86,000 level. A golden cross pattern has formed with the 50-day and 200-day daily moving average crossing each other.
This initiative, proposed under the pending “Bitcoin Act,” aims to let the U.S. government acquire up to 200,000 Bitcoin per year over five years, totaling up to 1 million BTC, or nearly 5% of the currency’s maximum supply. At current prices, this could cost over $80 billion.
The U.S. already holds around 200,000 Bitcoin, largely confiscated from criminals. Trump has pledged that under his administration, seized Bitcoin wouldn’t be sold.
The price of bitcoin is trading at a new fresh record high above the $86,000 level. A golden cross pattern has formed with the 50-day and 200-day daily moving average crossing each other.
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Economic Calendar:
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