Trump Soon To Form US Bitcoin Reserve, Will Other Countries Follow?

Donald Trump is preparing to form a national Bitcoin Reserve. (Photo; Doc. Bitcoin Systemi)

JAKARTA Donald Trump's victory in last month's presidential election opened a new chapter for the crypto industry, particularly Bitcoin (BTC). Trump, who will take office in January 2025, has pledged to form a Bitcoin Reserve or national strategic reserve fund in Bitcoin. This effort has the potential to increase demand for Bitcoin on a global scale and accelerate crypto adoption in various countries.

According to Denis Porter, CEO of Satoshi Action Fund, plans to establish Bitcoin Reserve will be implemented in several US states before being nationally implemented by the Trump administration. In fact, Porter believes Trump may issue an executive order in the first week of his presidency to initiate the initiative. Currently, 10 states in the US have reportedly drawn up plans to introduce the Bitcoin Reserve.

However, not all parties are optimistic about this plan. Peter Schiff, a Bitcoin critic, warned that this initiative would not get great support from Congress, except from certain politicians such as Senator Cynthia Lummis and Ro total. However, this Bitcoin reserve plan still attracts the attention of investors and crypto market players.

Impact of Bitcoin Reserve USA

If this strategic Bitcoin reserve is realized then demand for Bitcoin has the potential to spike significantly. This, according to Porter, could cause Bitcoin to become more difficult to obtain in the future, which in turn will push the price of Bitcoin even higher. In fact, some observers estimate the price of Bitcoin will exceed 100,000 US dollars (approximately IDR 1.58 billion) in the near future.

Despite challenges, such as political support uncertainty and potential market turmoil, the US move in the future of Trump's administration shows that cryptocurrencies are increasingly being accepted as part of the global financial system. The formation of Bitcoin's strategic reserves by the US could be a major step in wider adoption of digital assets at the country level.