President-elect Donald Trump gestures after ringing the opening bell at the New York Stock Exchange, Thursday, Dec. 12, 2024, in New York. (AP Photo/Alex Brandon)
Bitcoin has climbed to $150,000 US since Donald Trump won the presidential election. Now, he's filling his administration with pro-crypto advisers, and seems to be backing the idea of a Bitcoin Reserve held by the U.S. Treasury. Analysts say that could boost the price by another 50 per cent.U.S. president-elect Donald Trump gestures after ringing the opening bell at the New York Stock Exchange on Dec. 12 in New York.
It would also mandate the Treasury secretary to purchase no more than 200,000 bitcoins a year over a five-year period, for a total of one million bitcoins.Trump — with Lynn Martin, NYSE president, centre; Melania Trump, right; and trader Peter Giacchi, left — walks the floor of the New York Stock Exchange.
" will move the price overnight by between 25 and 50 per cent because you'll have a flood of people coming in trying to jump in front of the government's purchase, which is going to take months or weeks to get off the ground," Moas said this week. "Some of what is being said — this idea that we should have some kind of national bitcoin reserve — is crazy," Summers said on Bloomberg Television'sCrypto companies spent over $133 million US backing pro-crypto candidates in races across the United States in November's election, according to, which tracks U.S. campaign spending and lobbying. That would make up about one-third of all direct corporate contributions to super PACs .
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