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COINTURK NEWS > Bitcoin News > Bitcoin Reaches New Heights Following Trump’s Strategic Reserve Proposal
Bitcoin News

Bitcoin Reaches New Heights Following Trump’s Strategic Reserve Proposal

In Brief

  • Bitcoin hit a record high of over $107,000 after Trump's reserve proposal.

  • VanEck predicts Bitcoin could reach $180,000 by 2025.

  • Market analysts discuss potential long-term impacts of recent developments.

Ömer Ergin
Ömer Ergin 6 months ago
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Bitcoin $104,867 surged over $107,000 on Monday, reaching a new record level after U.S. President Donald Trump raised the potential for a strategic BTC reserve. The largest cryptocurrency globally, Bitcoin, climbed to $107,793 and showed a 3.64% increase at the time of writing, signifying strong market interest.

Contents
Trump’s BTC Reserve ProposalVanEck’s 2025 Price Predictions

Trump’s BTC Reserve Proposal

Investor confidence increased following MicroStrategy’s announcement that it would join the tech-heavy Nasdaq 100 index. This move is anticipated to attract more investment flow into the software company that has been purchasing Bitcoin.

VanEck’s 2025 Price Predictions

VanEck forecasts that Bitcoin could reach $180,000 by 2025, indicating potential growth in the cryptocurrency market. Russia is also considering establishing strategic cryptocurrency reserves, with President Vladimir Putin noting that many countries are looking for alternative reserves as the current U.S. administration weakens the dollar’s status.

Federal Reserve Chairman Jerome Powell compared Bitcoin to gold, while Chris Weston, head of research at Pepperstone, expressed skepticism about the immediate establishment of a BTC strategic reserve. Matthew Sigel, head of digital asset research at VanEck, predicted a 30% pullback for Bitcoin after its initial peak, suggesting more significant declines for altcoins.

As Bitcoin’s rise is supported by possible favorable regulations and strategic reserve plans from the Trump administration, market experts evaluate its long-term effects on the cryptocurrency market.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 17 December, 2024 - 2:14 am 17 December, 2024 - 2:14 am
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