CandleFocus Trump Pitched ‘Massive’ $280 Trillion Price Bitcoin Reserve To Save The Dollar
2024-12-22
Author: Content Editor
The U.S. president-elect, Donald Trump, has plans to establish a U.S. bitcoin strategic reserve, which has contributed to the surge in bitcoin's price. MicroStrategy founder Michael Saylor has pitched a "capital markets renaissance" fueled by bitcoin to unlock trillions in wealth. The plan envisions a U.S. bitcoin reserve that could generate $16 trillion to $81 trillion and help offset the U.S. national debt. Senator Cynthia Lummis has introduced a bitcoin reserve bill to Congress proposing the purchase of 200,000 bitcoin annually until the reserve reaches one million bitcoin. The document also outlines the expansion of global digital capital markets and growth in digital assets beyond bitcoin. Russia has also reportedly expressed interest in establishing a bitcoin reserve. MicroStrategy, a software company, has transformed into a "bitcoin treasury" company and has seen its valuation reach an all-time high.
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