U.Today - Anthony Pompliano, a renowned venture capitalist, podcaster and Bitcoiner, has shared data that shows that the probability, or rather, the expectations of the new U.S. president building a strategic Bitcoin Reserve for the country in 2025 have seen a drastic increase.
This tweet was published while Bitcoin briefly surged to touch the $106,000 price mark. That was followed by a slight pullback, and the world’s largest cryptocurrency by market capitalization size is now changing hands at $103,120 per coin. This constitutes a 2.71% decline within several hours today.
Bitcoin Reserve probability spikes to 70%
Over the past 24 hours, the Bitcoin price has increased by roughly 4%, coming really close to the $106,000 level and demonstrating an increase of 16.90% over the past week — from $90,660 to $105,932.It happened as the speculation about the new presidential administration in the U.S. and the newly elected political leader’s plans to give the green light to the creation of a strategic BTC reserve for the country and start building it this year.
According to a screenshot from the Kalshi betting market, the probability of it happening has reached a historic peak of 70%.
Another key factor that has driven the Bitcoin price up that high is the approaching of Donald Trump’s inauguration day, which will be Jan. 20, Monday next week.
U.S. government could sell 70,000 BTC
As reported earlier, the U.S. Department of Justice (DOJ) has recently been granted permission by court to sell the 69,370 BTC confiscated from a Silk Road hacker in 2020.The sell has not taken place yet, but it could result in the U.S. government obtaining $7,152,699,078 in exchange for this crypto. Many crypto fans, however, hope that the newly elected U.S. president Donald Trump will prevent the potential sale and keep that huge amount of Bitcoin for the strategic reserve he plans to build.
This article was originally published on U.Today