Bitcoin Reserve Plan: Trump Predicts $15 Trillion Cap Boom

Trump’s Bitcoin Reserve Plan Fuels Predictions: Is $15T Cap In Reach?

Trump Confirms Bitcoin Reserve Plans Amid Growing Crypto Support

This year, former President Donald Trump has firmly positioned himself as a supporter of Bitcoin and the broader crypto landscape. Leaks suggest that Russia might be gearing up for a “bitcoin cold war,” echoing concerns of a looming global financial shift. As Bitcoin’s price soared past $100,000 following Trump's November election, the head of a major Wall Street firm admitted to experiencing “FOMO” (fear of missing out) on Bitcoin’s meteoric rise.

U.S. Bitcoin Strategic Reserve: The Next Big Move?

Amid growing fears of a U.S. debt crisis that could destabilize the dollar, Trump has confirmed his plans to establish a U.S. Bitcoin strategic reserve. 

He quoted, “We’re going to do something great with crypto because we don’t want China, or anyone else… but others are embracing it, and we want to be ahead,” Trump told CNBC. When asked directly if the U.S. should create a Bitcoin reserve similar to its oil reserves, he responded, “Yes, I think so.”

The BITCOIN Act: A Bold Step Towards the Future?  

In July, while campaigning as a Republican candidate, Trump promised to create a “strategic national Bitcoin reserve” and boldly predicted that Bitcoin could surpass gold’s market cap around $16 trillion.

Adding fuel to the fire, Republican Senator Cynthia Lummis introduced a bill titled the Boosting Innovation, Technology, and Competitiveness Through Optimized Investment Nationwide (BITCOIN) Act. This legislation proposes that the U.S. buy 1 million Bitcoins over five years to help address its $35 trillion national debt.

Russia Joins the Bitcoin Reserve Movement 

As Russia’s lawmakers reportedly push for a Bitcoin reserve to provide an alternative to foreign currency reserves, President Vladimir Putin’s praise of Bitcoin as a refuge from Western sanctions has fueled speculation that Trump may follow through on his plans. The possibility of a Trump-backed Bitcoin reserve has triggered huge price predictions from traders and investors - boosted further by a surprise endorsement from Elon Musk.

Perianne Boring on Bitcoin’s Skyrocketing Future

“If Donald Trump is successful in implementing many of the proposals he’s discussed with the crypto community, the sky's the limit because Bitcoin has a fixed supply,” said Perianne Boring, founder of the Digital Chamber, during an interview with Fox Business. “The stock-to-flow model predicts it could reach over $800,000 by the end of next year,” she added, projecting a market capitalization of around $15 trillion - up from around $2 trillion currently.