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2024

Bitcoin

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<ul> 
 <li aria-level="1">U.S. Senator Cynthia Lummis Proposes Strategic Bitcoin Reserve to Strengthen National Financial Stability Using Cryptocurrency.</li> 
 <li aria-level="1">Influential Crypto Figures Like Michael Saylor and Anthony Pompliano Support U.S. Acquisition of Bitcoin to Create Reserve.</li> 
</ul> 
Samson Mow, a notable Bitcoin advocate and CEO of JAN3, recently expressed a very optimistic view on Bitcoin’s price trajectory, predicting continuous all-time highs (ATHs) in the coming months. This statement came on the heels of Bitcoin achieving two record highs in one day, reflecting a surge in market enthusiasm.&nbsp; 
Mow’s forecasts have often included what he refers to as “Godzilla” and “Omega” candles—dramatic price spikes that could potentially push Bitcoin towards the $1 million mark. While such predictions are bold, they highlight the speculative nature of cryptocurrency markets and the impact of significant market events. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Non-stop <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ATHs for the next few months. 
 — Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1854253694025633956?ref_src=twsrc%5Etfw">November 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In a <a href="https://www.ethnews.com/u-s-eyes-bitcoin-reserves-following-trumps-election-win/">broader context</a>, discussions about Bitcoin’s role in national financial strategies have also gained traction. U.S. Senator Cynthia Lummis, a pro-crypto figure, has suggested that the United States consider establishing a strategic Bitcoin reserve.&nbsp; 
This would involve the U.S. government acquiring and holding approximately 200,000 BTC annually, aiming for a total of one million Bitcoins over several years. 
Such a move would aim to strengthen the nation’s financial position by leveraging Bitcoin as a store of value, capitalizing on its limited supply of 21 million coins. 
Support for this idea has been echoed by influential figures in the crypto space, including MicroStrategy’s <a href="https://www.ethnews.com/michael-saylors-bold-vision-microstrategys-bitcoin-strategy-and-the-path-to-a-trillion-dollar-company/">Michael Saylor</a> and Anthony Pompliano of Pomp Investments. Pompliano believes that establishing a U.S. Bitcoin reserve could spark unprecedented global interest in Bitcoin, potentially leading to widespread FOMO (fear of missing out).&nbsp; 
This sentiment underscores the potential for significant geopolitical and economic implications if major governments integrate Bitcoin into their monetary reserves. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 If the United States establishes a bitcoin strategic reserve, it will kick off a global FOMO unlike anything we have ever seen before. 
 — Anthony Pompliano <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f32a.png" alt="🌪" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@APompliano) <a href="https://twitter.com/APompliano/status/1854359984370270544?ref_src=twsrc%5Etfw">November 7, 2024</a>
</blockquote> 
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Overall, the <a href="https://www.ethnews.com/analysts-predict-bitcoin-could-reach-90000-following-trumps-victory-market-shows-strong-response-to-political-events/">integration of Bitcoin</a> into mainstream financial strategies, combined with high-profile endorsements and speculative forecasts, illustrates the evolving landscape of digital currencies.&nbsp; 
As Bitcoin continues to make headlines with its price movements, the discussions around its utility, regulatory considerations, and potential as a reserve asset are likely to intensify, offering a fertile ground for both supporters and skeptics of its long-term viability and impact on global finance. 
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 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
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Bitcoin (BTC) is currently trading at $74,950, down 0.91% for the day. Over the past week, Bitcoin has increased by 3.68%, and over the past month, it has gained 20.55%, reflecting a strong upward trend. 
The market cap sits around $1.48 trillion, with a 24-hour trading volume of $68.42 billion, indicating steady interest from investors.&nbsp; 
<img decoding="async" class="aligncenter size-full wp-image-103962" src="https://www.ethnews.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-07_09-20-19.png" alt="BTCUSDT_2024-11-07_09-20-19" width="1625" height="959"> 
Key resistance remains near the previous high of $73,794, with immediate support at $73,000. Technical indicators continue to signal a bullish trend, though the recent dip may lead to short-term consolidation before a potential further advance. 
The post <a href="https://www.ethnews.com/economic-impact-of-u-s-acquiring-200000-btc-annually-for-reserve/">Economic Impact of U.S. Acquiring 200,000 BTC Annually for Reserve</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Economic Impact of U.S. Acquiring 200,000 BTC Annually for Reserve

ETHNews

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