Trump Backs $23B Bitcoin Plan as BTC Dips Below $116K: Is $110K Next?
Main Idea
The article discusses recent developments in U.S. Bitcoin policy, including Trump's support for a $23B Bitcoin reserve, SEC reforms, and market trends amid BTC price fluctuations.
Key Points
1. The U.S. government holds an estimated 198,000 BTC (worth over $23B), with plans to retain seized Bitcoin as a strategic reserve asset.
2. The SEC announced sweeping crypto reforms, signaling regulatory collaboration to accelerate adoption.
3. Whale activity shows accumulation of 1% of BTC supply in four months, while a Satoshi-era whale sold 80,000 BTC ($9B).
4. Bitcoin price dipped below $116K, with technical indicators suggesting potential further decline to $110K.
5. Bitcoin Hyper ($HYPER), a Bitcoin-native Layer 2 project, raised over $6M in its presale, aiming to merge Bitcoin's security with Solana's speed.
Description
The Trump administration has renewed its commitment to building a Strategic Bitcoin Reserve despite scant mention in its latest official digital asset report. Bo Hines, head of digital assets at the White House, confirmed the plan is operational: “We have it, it’s been established.” Though exact holdings remain undisclosed, the U.S. government currently controls an estimated 198,000 BTC, worth over $23 billion, mostly from law enforcement seizures. IMPORTANT: Trump signed executive order for U.S...
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