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Bitcoin Soars Towards $110,000 As Reserve Rumors Heat Up Newsbtc 2 weeks ago

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

Michael Saylor Donald Trump Cynthia Lummis Bitcoin Polymarket

Bitcoin surged to a record high of $109,558, coinciding with President Trump's inauguration day. Rumors are swirling that Trump may establish a Strategic Bitcoin Reserve (SBR) via executive order, fueling market speculation.

Polymarket, a crypto prediction platform, reported a 59% increase in the odds of such a reserve forming within Trump's first 100 days, which preceded Bitcoin's spike. The notion of transferring government-held BTC into a reserve was raised during Trump's campaign.

Several influential Bitcoin advocates recently met with Trump's administration, intensifying SBR chatter. Senators Lummis and Barrasso, along with others, have bolstered the talk around a government-led BTC initiative.

Further supporting Bitcoin's case, key figures from MicroStrategy and MARA Holdings have reportedly engaged with the incoming Trump administration, indicating flexibility towards Bitcoin. Analyst MacroScope expects many upcoming headlines on this intriguing financial market development.

David Bailey of BTC Inc. reiterated his backing of Trump's crypto-friendly moves, despite controversies, while Charles Edwards of Capriole Investments noted Bitcoin's market dynamics, suggesting potential gains due to positive developments and investor realizations.

Source: www.newsbtc.com ↗

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