U.S. Treasury calls Bitcoin 'digital gold' as it surpasses $100K amid strategic reserve discussions initiated by Trump.
Amid this optimism, Tesla’s Elon Musk has called for the U.S. to establish a BTC strategic reserve, citing concerns over the nation’s $36 trillion debt.“Primary use case for Bitcoin seems to be a store of value aka ‘digital gold’ in a decentralized finance world,”
The U.S. Treasury’s acknowledgment of BTC as a store of value akin to gold highlights its meteoric rise, with its market valuation growing from $6.4 billion in 2015 to an astonishing $1.3 trillion by 2024.to establish a “strategic national Bitcoin reserve” and his bold prediction that BTC could surpass gold’s $16 trillion market capitalization signals a significant shift in the national approach to digital assets.“It’s just like gold only it’s virtual.
“The U.S. Treasury just declared that bitcoin is digital gold and yet some people still think $100,000 bitcoin is too expensive. We are going much higher.”In the meantime, BTC has dropped 0.67% in the last 24 hours, with its price at $98,607.58 at press time, according to Yet, the future remains uncertain as Bitcoin navigates its next moves—whether it will maintain its bullish trend or face a bearish shift.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin: Rumble stock rallies 9% as founder mulls adding BTC to treasuryA Bitcoin Rumble treasury plan saw the video streaming firm's share RUM surge 9%. But will the proposal will be approved?
Read more »
Is Bitcoin bottom in? Seller exhaustion suggests BTC is about to…After showcasing impressive performance in November, Bitcoin [BTC] has now entered a consolidation phase near $96k.
Read more »
Bitcoin withdrawals cross 65K as BTC inches closer to $100K: What’s next?Bitcoin nears $100K as massive withdrawals tighten supply. Explore market trends, social buzz, and historical data driving prices.
Read more »
Bitcoin’s Trump effect: Is $100K edging closer for BTC?Political shifts, ETF records, and market bets—Bitcoin nears $100K in an unpredictable ascent - What's next?
Read more »
Bitcoin’s MVRV flashes red: Is a BTC correction on the horizon?At press time, MVRV is flashing a warning sign for Bitcoin (BTC), suggesting that BTC might face a price correction in the coming days.
Read more »
Bitcoin FOMO on the rise as BTC’s $100K hopes rise – Affects 2 key areasIs Bitcoin ready for another pullback? Mid-term holders have been taking profits but a surge in active addresses absorbed the sell pressure
Read more »