The price of Bitcoin reached its highest level since January, reaching an intraday high of $102,088. Speculation is growing that a strategic Bitcoin reserve may be announced soon, although Polymarket only sees a 37% chance of this happening in early 2025. However, some experts believe that if a strategic Bitcoin reserve is created, the price of Bitcoin could skyrocket to $1 million. The US government recently obtained court approval to potentially liquidate 70,000 Bitcoins seized from a Silk Road hacker, causing concern from Senator Cynthia Lummis, who introduced a bill to create a strategic Bitcoin reserve. Bitwise CEO Hunter Horsley revealed that a nation-state has expressed interest in Bitcoin ETFs and is considering moving some exposure from foreign currency government bonds into BTC.



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