Bitcoin

<p>The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/bitcoin-recognized-as-digital-gold-in-u-s-strategic-shift/" rel="noopener noreferrer nofollow">Bitcoin Recognized as &#34;Digital Gold&#34; in U.S. Strategic Shift</a><a href="https://cryptosnewss.com/david-sacks-named-white-house-ai-and-crypto-czar/" rel="noopener noreferrer nofollow"> </a>appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.</p><p>Bitcoin [BTC]’s ascent past the <a href="https://cryptosnewss.com/bitcoins-100k-milestone-is-the-cycle-top-ahead/" rel="noopener noreferrer nofollow">$100,000 milestone</a> has ignited a global frenzy, attracting investors, institutions, and even governments.</p><p>Amid this optimism, Tesla’s Elon Musk has called for the U.S. to establish a <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">BTC</a> strategic reserve, citing concerns over the nation’s $36 trillion debt.</p><h2 id="header-0">U.S. Treasury recognizes Bitcoin as “digital gold”</h2><p>Adding weight to the conversation, the U.S. Treasury Department has officially <a href="https://home.treasury.gov/system/files/221/TBACCharge2Q42024.pdf" rel="noopener noreferrer nofollow">recognized</a> Bitcoin as “digital gold,” highlighting its emerging role as a store of value.</p><p>In a recent report, the Treasury stated,</p><blockquote>“Primary use case for Bitcoin seems to be a store of value aka ‘digital gold’ in a decentralized finance (DeFi) world,”</blockquote><p>The U.S. Treasury’s acknowledgment of BTC as a store of value akin to gold highlights its meteoric rise, with its market valuation growing from $6.4 billion in 2015 to an astonishing $1.3 trillion by 2024.</p><p>This exponential growth underscores the increasing interest in DeFi and digital tokens.</p><h2 id="header-1">Trump’s U.S. Bitcoin strategy</h2><p>Adding to the momentum, U.S. President Donald Trump has nominated pro-Bitcoin advocate Scott Bessent as the next Treasury Secretary.</p><p>That being said, Trump’s earlier pledge to establish a “strategic national Bitcoin reserve” and his bold prediction that BTC could surpass gold’s $16 trillion market capitalization signals a significant shift in the national approach to digital assets.</p><p>In fact, Bessent commented on the same post-Trump’s Bitcoin reserve proposal and said,</p><blockquote>“I think that everything is on the table with Bitcoin.”</blockquote><h2 id="header-2">Other execs weighing in</h2><p>Additionally, Federal Reserve Chair Jerome Powell recently likened Bitcoin to gold at the DealBook conference.</p><p>He said,</p><blockquote>“It’s just like gold only it’s virtual. People are not using it as a form of payment, or as a store of value. It’s highly volatile. It’s not a competitor for the dollar, it’s really a competitor for gold.”</blockquote><p>Echoing a similar sentiment was ARK Invest CEO Cathie Wood and <a href="https://x.com/Dennis_Porter_/status/1865471739876286599" rel="noopener noreferrer nofollow">Dennis Porter</a>, who said,</p><blockquote>“The U.S. Treasury just declared that bitcoin is digital gold and yet some people still think $100,000 bitcoin is too expensive. We are going much higher.”</blockquote><h2 id="header-3">Bitcoin’s price action</h2><p>In the meantime, BTC has dropped 0.67% in the last 24 hours, with its price at $98,607.58 at press time, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>.</p><p>However, analysts speculate that the rally could lose further momentum following Trump’s <a href="https://ambcrypto.com/trump-effect-why-crypto-markets-could-lose-steam-after-inauguration/" rel="noopener noreferrer nofollow">inauguration</a> on 20th January 2025.</p><p>Yet, the future remains uncertain as Bitcoin navigates its next moves—whether it will maintain its bullish trend or face a bearish shift.</p><p>The post <a href="https://cryptosnewss.com/bitcoin-recognized-as-digital-gold-in-u-s-strategic-shift/" rel="noopener noreferrer nofollow">Bitcoin Recognized as &#34;Digital Gold&#34; in U.S. Strategic Shift</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.</p>

Bitcoin Recognized as "Digital Gold" in U.S. Strategic Shift

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