11 hours ago
Polymarket lone sees a 16% chance that the Donald Trump volition bid the instauration of a strategical bitcoin (BTC) reserve successful the archetypal 100 days of its administration, contempt assurances from crypto czar David Sacks that there's an effort underway to research the idea.
"President Trump has asked america to survey that issue, truthful we are not acceptable to remark connected it yet. But it's 1 of the things our moving groups are going to look at," Sacks said successful a caller quality connected Fox.
Senator Cynthia Lummis, a Wyoming Republican who is known for her bitcoin-friendly argumentation stance, has submitted a bill proposing the instauration of a reserve, but this is simply a abstracted measurement from the White House's efforts.
The measure proposes establishing a "Bitcoin Purchase Program" of up to 200,000 BTC a twelvemonth implicit a five-year period, and volition beryllium partially funded by revaluing Federal Reserve's gold, CoinDesk antecedently reported. Right present the measure is earlier the Committee connected Banking, Housing, and Urban Affairs.
Among the supporters of specified a determination is MicroStrategy's (MSTR) Michael Saylor, who said the program volition support the dollar.
“The champion mode to support the dollar is marque definite you discontinue the indebtedness and go rich," said the MicroStrategy (MSTR) enforcement chairman during a November conference. "The adjacent champion mode to support the dollar is to marque definite that if anybody ever considers a antithetic superior plus different than the treasury bill, you ain it."
Meanwhile, the State of Texas precocious said that it is moving connected its ain strategical BTC reserve. Polymarket bettors are giving a 53% chance that a measure greenlighting the instauration of specified a reserve successful 2025.
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