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Pantera Capital views the upcoming U.S. presidential election as a pivotal moment for Bitcoin, predicting a "buy the rumor, buy the news" scenario that could drive long-term adoption and price growth, particularly under Trump’s pro-crypto policies. With key appointments signaling potential regulatory clarity, industry experts anticipate that Trump's leadership may reignite Bitcoin's momentum, despite recent market volatility. As Bitcoin trades at $95,085.78, the crypto market is poised for a strong year in 2025, closely watching the interplay between political changes and market dynamics.
Pantera Capital predicts that the upcoming U.S. presidential election will act as a "buy the rumor, buy the news" event for Bitcoin, similar to the recent launch of spot Bitcoin ETFs, which saw significant price increases. With Donald Trump's inauguration, industry experts believe his pro-crypto stance could reignite the bull market, especially if he takes swift action to recognize Bitcoin as a reserve asset. His appointments, including pro-crypto figures in key positions, further bolster confidence in the cryptocurrency market.
New Hampshire and North Dakota have introduced legislation for a Strategic Bitcoin Reserve, aiming to diversify state treasuries with digital assets. New Hampshire's bill, led by Rep. Keith Ammon, refers to "digital assets" without explicitly naming Bitcoin, while North Dakota's proposal has garnered 11 sponsors. The push for Bitcoin reserves has gained momentum following Donald Trump's promise to make the U.S. a crypto capital, though opinions on the likelihood of such a reserve materializing vary among industry leaders.
A Bitwise survey reveals that 56% of US financial advisers are more inclined to invest in crypto following Donald Trump's election victory, anticipating a more crypto-friendly environment. While 99% of current crypto investors plan to maintain or increase their exposure, access remains a significant barrier, with only 35% able to buy crypto for client accounts. Additionally, Bitcoin reserves held by US entities have reached an all-time high, surpassing those held offshore by 65%.
The U.S. could cut its national debt by 35% by 2049 by establishing a reserve of 1 million Bitcoin, according to VanEck. This scenario assumes Bitcoin will grow at a 25% annual rate, reaching $42.3 million, while national debt rises to $119.3 trillion. The proposal, linked to Senator Lummis, suggests utilizing seized Bitcoin and selling part of gold reserves to finance the reserve without taxpayer funds.
Institutional players are reshaping the Bitcoin market, potentially leading to reduced volatility and a more stable environment. The Bitcoin Reserve Act could trigger a global race for Bitcoin accumulation among nations, fundamentally altering market dynamics and investor behavior. As institutional adoption grows, the influence of external factors may overshadow traditional cycles, challenging the notion of predictable price movements.
The Bitcoin Policy Institute has drafted an executive order for President-elect Donald Trump to designate Bitcoin as a strategic reserve asset, effective on his first day in office. This initiative aims to enhance U.S. economic stability and leadership in the digital asset space by establishing a Strategic Bitcoin Reserve within the Treasury's Exchange Stabilization Fund. The proposal includes provisions for regular audits and prohibits the sale of any federal Bitcoin holdings, directing their transfer to the new reserve.
Strike CEO Jack Mallers is bullish on Bitcoin, predicting it could soar to $1 million, representing an 871% increase from its current price of $106,994. He attributes this potential surge to the U.S. purchasing four million Bitcoin and the prevailing fiscal challenges, suggesting that further currency debasement and asset inflation will favor Bitcoin as a scarce asset.
The total crypto market capitalization has risen 3.2% to $3.71 trillion, driven by Bitcoin's 3.5% increase to $81,587 and strong institutional demand for spot ETFs. Factors include President-elect Trump's potential Bitcoin reserve strategy and a bullish seasonal trend, with expectations of further price increases as the year ends.
Bitcoin reached a new all-time high of $105,100 on December 15, driven by speculation of it becoming a US reserve asset. The cryptocurrency has surged nearly 20% in the past month and 55.5% since the November 5 presidential election. Asset managers predict Bitcoin could rise to between $180,000 and $200,000 by 2025, regardless of any strategic reserve implementation.
Jack Mallers
People
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