24/7 Cryptocurrency News
Why Donald Trump Needs To Create A Strategic US Bitcoin Reserve
Donald Trump’s recent election victory has reignited discussions around his campaign promise to establish a strategic US Bitcoin reserve. Although the proposal remains unimplemented, it has sparked curiosity about whether this will actually happen, what such a BTC reserve could entail, and how it might function if brought to fruition.
The conversation, inspired by Donald Trump’s campaign promises to base Bitcoin as a centerpiece in US economic policy, outlined the current relevance of Bitcoin on the world stage and how it might compare to traditional assets such as gold. Anthony Pompliano, founder & CEO of Professional Capital Management and ardent supporter of Bitcoin, presented his thoughts about the United States and its potential as an adopter of Bitcoin to be held as a strategic BTC reserve.
Will Donald Trump Create The US Bitcoin Reserve? Pompliano Weighs In
Anthony Pompliano, founder & CEO of Professional Capital Management emphasized the strategic necessity of creating US Bitcoin Reserve, given how different countries, such as El Salvador and Bhutan, have already welcomed Bitcoin into their national reserves.
Pompliano signaled the need for urgency within the US to take action, stating that although Bhutan is currently not a major global economy, the country’s proactive approach toward Bitcoin can easily make it a significant player in the future. Bhutan’s BTC holdings just recently increased to over $1 billion.
The market expert also said the same goes for El Salvador, as it could become a global economy thanks to its Bitcoin exposure. Speaking further on the need to create the Bitcoin reserve, Pompliano said, “This asset (Bitcoin) is so asymmetric. If it continues to compound, it will translate into billions of dollars on their balance sheets while the US struggles with a growing national debt.”
During one of his pre-election speeches at the Bitcoin conference in July, Donald Trump promised that under his government, the US would retain all the Bitcoin in possession in order to create a US Bitcoin Reserve for the “good of all Americans”.
Even though there are still questions regarding the final outcome, the idea evolved into what has since become known among cryptocurrency enthusiasts as a strategic US Bitcoin reserve, with some, such as Senator Cynthia Lummis, proposing a gold sale to acquire up to 1M Bitcoins. At today’s market prices, such a BTC reserve would be worth more than $90 billion, placing the US as a hegemon in the Bitcoin economy.
Bitcoin to Eclipse Gold as the Ultimate Store of Value
A Strategic US Bitcoin Reserve would serve as a government-held asset designed to bolster economic resilience during periods of financial instability. By leveraging Bitcoin’s decentralized nature and scarcity, such a BTC reserve could potentially act as a hedge against inflation, currency devaluation, and global economic disruptions. Donald Trump’s approach aligns with the growing recognition of Bitcoin as a “digital gold” and its increasing adoption by nations seeking financial sovereignty.
Pompliano went on to parallel Bitcoin to gold, adding that while Bitcoin currently maintains a market capitalization of around $1.7 trillion, gold stands at $17 trillion. He said that as a digital asset, Bitcoin would overtake gold’s market capitalization because of its advantage as a digital store of value.
“There’s not an example where the digital product doesn’t outsize its analog counterpart,” Pompliano said. He made the case that Bitcoin’s first and foremost use case-store of value solves a global problem: preserving wealth from inflation and currency devaluation. Whereas central banks constantly devalue fiat currencies, he said, Bitcoin is a deflationary, capped alternative that gives individuals and countries a choice.
Pompliano further explained how that might trickle down from Donald Trump’s strategy of establishing a US Bitcoin reserve: If the United States puts cash into Bitcoin, that means every state and local government should also allocate their reserves to Bitcoin. “You’re sitting with cash that’s guaranteed to lose value. If you want to fulfill your fiduciary duty, sitting in 100% cash is the wrong answer,” he said.
He cited MicroStrategy’s success under Michael Saylor’s leadership, who recently acquired an additional 27,200 BTC, stating that large institutional onboarding into Bitcoin provided protection from inflation. Pompliano further called for all levels of government to “get off zero” and consider a minimum allocation to Bitcoin of at least 1%.
Novogratz: BTC Reserve Unlikely, But Could Propel Price to $500K
Michael Novogratz, the billionaire CEO of Galaxy Digital, expressed skepticism about the strategic adoption of a US Bitcoin reserve idea, despite President-elect Donald Trump’s proposal. He specified that there were low chances for the BTC reserve under Trump.
However, he acknowledged the potential strategic value of such a move. “It would be very smart for the United States to take the Bitcoin they have and maybe add some to it,” he suggested. “That would signal to the world that we are a technology-first country, a crypto, digital asset-first country. I don’t necessarily think that the dollar needs anything to back it up, but it would make a statement.”
Novogratz predicted that if there will be a US Bitcoin reserve establishement, it could trigger a massive rally in the digital asset’s price. “If we get the BTC reserve, as a guy who owns a lot of Bitcoin, I won’t cry,” he quipped. “I think Bitcoin heads to $500,000. It’s a different paradigm because it forces every other country in.”
Bitcoin, currently trading near a record $90,291, could see unprecedented growth if this proposal were enacted, pushing the cryptocurrency further into the global financial spotlight.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Despite the recent attempt by the bulls, Ethereum price has struggled to regain past $2,000 levels recently. Market analysts believe that there’s enough possibility that ETH could see another 50% drop to $1,000 as some early ETH whales resolve to heavy profit booking.
Ethereum Price Struggles to Regain $2,000
Amid the overall market uncertainty, Ethereum continues to face some selling pressure as bulls fail to regain control over $2,000 levels. Crypto analyst Ali Martinez has stated that investors should maintain caution before building fresh positions in ETH.
“Ethereum hits $2,000. Cool, but zoom out! The big picture is brewing something bigger,” Martinez stated. As per the below chart shared by Martinez, if bulls fail to hold the Ethereum price above $2,050, it risks further falling to the next support at $1,500, and even below all the way to $1,095 levels, per his recent ETH price prediction.
As of press time, the ETH price is trading 2.26% down at $1,973 with its daily trading volume dropping over 40% to $12.21 billion. Furthermore, the ETH futures open interest has also dropped 4% under $20 billion. A recent ETH price prediction also hints that the crypto will hover near $2K for some time ahead.
Early ETH Whale Sells 34,125 Coins
Blockchain analytics platform SpotonChain reported that a major ETH whale appears to have secured a massive profit of $65.66 million, marking a staggering 4,156% return on investment. The whale’s holdings date back to March 2017 when they acquired the ETH from platforms like Changelly, Bitfinex, ShapeShift, and Binance at an average cost of just $46.3 per token.
The whale, identified as “0x086,” deposited its entire ETH holdings of 34,125 ETH to crypto exchange Coinbase a few hours ago. This transaction happened at an average Ethereum price of $1,970.
Currently, the ETH whale activity remains mixed as some big players are moving it from exchange and moving it to staking to earn the extra yield. These are specifically the long-term ETH holders holding with diamond hands.
BlackRock Explains Why Ethereum ETFs Are Struggling
Despite Ethereum price eyeing a relief rally past $2,000, there’s no major relief for spot Ethereum ETFs. The outflows have continued through March 2025 so far, highlighting a major drop in institutional sentiment.
While speaking at the Digital Asset Summit (DAS) in New York City, BlackRock’s head of digital assets Robbie Mitchnick explained the real reason behind this fall. Mitchnick suggested that the ETFs could have performed better if they had included staking, noting that the absence of this feature made the launch “less perfect.”
“A staking yield is a meaningful part of how you can generate investment return in this space. And all the [Ether] ETFs, of course, at launch did not have staking,” he said.
On Thursday, crypto asset manager Bitwise filed a proposal to introduce staking on Ethereum ETFs. The New York Stock Exchange (NYSE) has proposed amendments to allow the listing and trading of shares for the Bitwise Ethereum ETF, incorporating staking capabilities.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, the analyst alluded to a previous analysis, in which he predicted that XRP could reach $130, a move which confirms that the altcoin is still on the path to this ambitious target.
XRP Price Set To Rally To $130
In an X post, Egrag Crypto confirmed that the XRP price could rally to $130. He alluded to a previous analysis in which he predicted that the altcoin could rally to this target while stating that only a few understand what is coming for the altcoin. Back then, the analyst had highlighted $130 as one of the massive macro targets as XRP eyes a parabolic breakout.
He also raised the possibility of XRP entering its most explosive phase yet and added that the “eruption is near.” Indeed, XRP might be about to enter its most explosive phase, considering that the US SEC has agreed to drop the Ripple lawsuit. This development is very bullish for the XRP price, as the long-running legal battle had negatively impacted the altcoin during the 2021 bull run.
In another X post, Egrag Crypto revealed how XRP could rally to as high as $8 in the midterm. He stated that a close above $2.66 would be a good sign, followed by another close above $2.97, which would be a second bullish confirmation.
The analyst asserted that the ultimate confirmation for a bullish trend would be a close at $3.40. Egrag Crypto stated that the next targets are between $5 to $8 if XRP hits $3.40, which is the current all-time high (ATH).
What Next For The Altcoin As Key Structure Holds
Crypto analyst CasiTrades revealed that the XRP price has held its structure. She noted that the altcoin took a strong dip to a local 0.5 retracement level but held structure right where it needed to. She added that even with the break below $2.40, XRP respected the channel structure and closed at the 1.236 extension for Wave C.
The analyst remarked that this price action is textbook Wave 4 behavior and, as long as XRP doesn’t witness further breakdowns, new highs could be loading. She warned that this is still a critical moment. If the channel continues to hold, CasiTrades predicts that the altcoin should make a push toward $2.65 to $2.70 with the breakout.
She again affirmed that $2.70 is the next major level to flip to support to continue the macro trend up towards ATH. The analyst revealed that the $2.45 price level is the resistance that will help confirm this push. Coincidentally, XRP is currently testing this level. CasiTrades warned that if the altcoin can’t break it, it could record another dip to the deeper 0.618 retracement level at $2.36.
Regardless of any dip, the crypto analyst asserted that the XRP price remains bullish on the macro degree, sitting above its major 0.382 retracement level at $2.25. She remarked that new highs above $3.40 should be printing soon.
Besides the SEC’s decision to drop the Ripple lawsuit, fundamentals such as Bitnomial’s launch of XRP Futures contracts also provide a bullish outlook for the altcoin and could spark a significant price surge.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Solana price has gained by a strong 6% in the last 24 hours moving to $135 amid the optimism surrounding the launch of futures Solana ETF by Volatility Shares on Thursday. As a result, traders have charged in with daily trading volumes for SOL surging by 61% to more than $3.57 billion.
Solana Price Action Draws Trader Interest, Is Bottom In?
Today’s Solana price action happens along with significant trader interest in the altcoin. Popular crypto analyst Ali Martinez pointed out that the Solana futures open interest has shot up to $2.7 billion, the levels last seen in October 2024. This shows a renewed interest in the Solana derivatives market while signaling growing participation from investors and traders alike.
After hitting the highs of around $270 in November 2024, the Solana price corrected more than 50% from the top in just the last four months. However, market analysts believe that SOL is showing signs of a bottom formation, and could reverse its trajectory from here onwards.
As shown in the below image, the Solana price has broken out of the converging triangle pattern. As a result, the immediate target on the upside could be in the range of $150-$180. Once the bulls successfully cross this range, we can see another leg of the rally to %260 and beyond.
Tuesday’s FOMC meeting saw the Federal Reserve keeping interest rates unchanged at 4.5%, which is the expected line. Bitcoin and the broader crypto market took this as a positive indicator with investors showing strength. The current SOL price prediction by analysts suggests that the bullish sentiment is once again picking up with the hope of an altcoin market revival.
Solana ETFs Go Live Today
In a major development for the crypto community, Florida-based investment giant Volatility Shares will bring the first-ever futures Solana ETFs to the US market. This marks the stepping stone for getting the spot ETF products into the market in the future. This is the same trajectory that was followed to bring spot Bitcoin ETF and spot Solana ETF to the market.
Volatility Shares LLC will introduce two Solana Futures ETFs with tickers – SOLZ and SOLT. Here, the standard Solana ETF (SOLZ) will directly track Solana futures, while the leveraged Solana ETF (SOLT) will provide investors with double the exposure to Solana price movements.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
US Treasury Lifts Sanctions Against Ethereum Mixer Tornado Cash
What Would Pi Coin Price Look Like if Pi Network Reaches XRP Market Cap?
SUI Drops 5.1% as Index Trades Lower From Thursday
South Korea to block non-compliant crypto exchanges
1.5M Holders, 10M Blocks on Shibarium
Pakistan Plans To Legalise Bitcoin And Crypto
‘This Is a Good Sign’: Crypto Analyst Says Bitcoin at a Key Inflection Point, Unveils Breakout Targets for BTC
Meteora shares two proposals on MET token allocation
Trump Aides Look To Reform USAID With Blockchain For ‘Transparency’: Report
Ethereum Price Eyes 50% Drop Amid Heavy ETH Whale Profit Booking
Polymarket is Over 90% Accurate in Predicting World Events: Research
Bad news Bitcoin bulls, the long-hoped-for retail is already here: CryptoQuant
Top 6 Important Fed Decisions To Know After SEC Drops Ripple Lawsuit Appeal
Leaders In Adoption And Innovation
Trader Issues Urgent XRP Alert, Says the Top-Five Altcoin at Risk of Sharp Correction – Here’s His Target
24/7 Cryptocurrency News4 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Bitcoin2 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
24/7 Cryptocurrency News2 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin5 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Altcoins2 months agoSonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Bitcoin4 months agoInstitutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
Opinion5 months agoCrypto’s Big Trump Gamble Is Risky
Price analysis5 months agoRipple-SEC Case Ends, But These 3 Rivals Could Jump 500x
✓ Share: