CandleFocus Alabama State Auditor Sorrell Backs Bold Plan for Strategic Bitcoin Reserve
2024-12-11
Author: Content Editor
The news content discusses the debate for the adoption of Bitcoin at the state level, particularly focusing on the state of Alabama. Russian leaders have joined the conversation, and the United States has been advocating for a strategic Bitcoin reserve. Top Fed officials believe Bitcoin is like digital gold with limited supply. The approval of spot Bitcoin ETFs on Wall Street indicates increased demand from institutional investors. Alabama's auditor believes adopting a Bitcoin plan will protect the state from inflation and global de-dollarization. The co-founder of Satoshi Action Fund suggests that adopting a strategic Bitcoin reserve will exacerbate the supply vs demand crisis. The US government's plan to purchase 1 million Bitcoin in the next five years could result in a super bull cycle. Eric Trump predicts Bitcoin's price could easily reach $1 million after recently reaching $100k.
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