CandleFocus Strategic Bitcoin (BTC) Reserve in the United States is Imminent; Dennis Porter Says
2024-12-03
Author: Content Editor
The adoption of Bitcoin at the state level in the United States is expected to happen before federal legislation is enacted. The cash inflow into Bitcoin is not likely to circulate to altcoins due to developments on the Bitcoin network and increased demand from institutional investors. Following Donald Trump's election victory, the mainstream adoption of Bitcoin has gained traction, with the upcoming US president promising a strategic national Bitcoin stockpile. The creation of a strategic Bitcoin reserve will likely lead to a global movement and increased demand. Ten states in the US have plans to introduce legislation for a strategic Bitcoin reserve. However, Bitcoin critic Peter Schiff warns investors to keep their expectations low. The imminent adoption of Bitcoin by nation-states and institutional investors will cause a significant demand vs supply shock and make it virtually impossible to purchase Bitcoin in the future. The price of Bitcoin is expected to continue its bull run beyond $100k.
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