Bitcoin Reserve Plan under Trump Gains Momentum
Industry stalwart Coinbase CEO Brian Armstrong revealed a potential strategic reserve for bitcoin under President Trump's administration. Armstrong, who met with Trump before and after the election, expressed Trump's enthusiasm for the cryptocurrency.
Trump's Crypto Initiatives
Trump's recent crypto ventures include:
* Trump Coin: Released by CIC Digital, an affiliate of the Trump organization.
* Melania Coin: Debuted on the eve of Trump's inauguration.
* Crypto Advocate Appointments: Paul Atkins as SEC head and David Sacks as AI and crypto czar.
Market Impact and Regulatory Outlook
Trump's support for crypto has influenced market sentiment, with Trump Coin reaching a market cap of $73 billion within 48 hours. Analysts believe the launch of "meme coins" by influential figures marks a shift towards crypto acceptance.
Investment Trends
Traditional investment entities, such as Wisconsin's pension fund, are incorporating bitcoin into their portfolios.
Benchmark Company Analyst Mark Palmer's Forecast
Palmer predicts bitcoin prices reaching $225,000 by 2026.
Outlook under Trump's Administration
Trump's positive stance on crypto suggests a more supportive regulatory environment, potentially positioning the US as a "crypto capital" of the world.