Bitcoin
‘Are you ready?’ — Elon Musk applauds wild rumors that Donald Trump will create a strategic Bitcoin reserve in the US and trigger chaos in crypto prices
Updated 7/22 below. This post was originally published on July 21
Bitcoin
Bitcoin
burst back to life this month as traders bet that former US President Donald Trump will trigger a boom in the price of bitcoin.
Bitcoin’s price has risen nearly 20% since its early July lows, helped by Shark Tank billionaire Mark Cuban issuing a “crazy” bitcoin price prediction.
Now, after Trump dropped a bombshell about JPMorgan’s bitcoinWild rumors are circulating that Trump could announce he would create a strategic bitcoin reserve in the US during his much-hyped appearance at the Bitcoin 2024 conference in Nashville next week – something that could trigger an “instant moon” in the price of bitcoin.
Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market
Former US President and 2024 Republican presidential candidate Donald Trump has embraced bitcoin… [+] in recent months, driving up the price of bitcoin and sparking bullish predictions that it would create a strategic bitcoin reserve in the US.
AFP via Getty Images
“There is speculation that Trump may announce the establishment of a strategic bitcoin reserve in the US during the Bitcoin 2024 conference in Nashville,” said Markus Thielen, CEO of institutional-focused analytics firm 10x Research. he said in an emailed note to clients noting that the price of bitcoin has soared nearly 1,900% during Trump’s first term.
“The U.S. could strategically incorporate bitcoin into its reserves, diversifying its portfolio and reducing reliance on traditional assets like gold and foreign currencies,” Thielen wrote, pointing to the roughly 212,000 bitcoins the U.S. government currently holds, worth about $15 billion, compared with its $600 billion in gold reserves.
“Donald Trump may already be thinking about adding bitcoin to the US balance sheet,” Lark Davis, bitcoin analyst and author of the Wealth Mastery newsletter, he wrote to your subscribers.
Update 7/22: David Bailey, the organizer of the Bitcoin 2024 conference and editor of Bitcoin Magazine, cheered up expectations over the weekend that Tesla CEO and one of the most powerful movers in the cryptocurrency market, Elon Musk, could make a surprise appearance at the Bitcoin 2024 conference.
Bailey noted that Musk changed his X profile picture to one with laser eyes — a symbol of bitcoin and cryptocurrency supporters that peaked in popularity during the 2021 bull run.
“Laser eyes are back in fashion,” said Michael Saylor, founder of bitcoin-buying software company MicroStrategy. posted alongside a screenshot of Musk’s new profile picture.
“Musk changes profile picture to laser eyes, Bitcoin Magazine CEO says ‘you’re ready’. If this means what I think it means, then this week is about to get even wilder,” crypto analyst and podcaster Scott Melker, posted for X.
Previously, Dennis Porter, the executive chairman of regulatory lobby group Satoshi Action Fund, posted to X that Trump “will announce a strategic US bitcoin reserve in Nashville,” citing anonymous and unnamed sources.
“People are skeptical that the U.S. could implement a strategic bitcoin reserve, but at this point it is inevitable,” Porter added.
A strategic reserve, such as the U.S. Strategic Petroleum Reserve, is a stockpile of assets kept on hand and designed to be used in emergencies or to secure debt.
“We are getting more and more confirmation that these rumors may be true,” said Simon Dixon, founder of investment platform BnkToTheFuture, posted for X.
In response, Ari Paul, chief investment officer at cryptocurrency hedge fund BlockTower Capital, put the odds on the U.S. creating a strategic reserve of bitcoin over the next four years by 10 to one, adding that it is “plausible to me that Trump would say that, which would be very bullish for bitcoin in the medium term” and that if Wall Street “really believed that would happen, then instant moon” — referring to a popular bitcoin meme that means the price of bitcoin is rising rapidly.
Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious
Bitcoin’s price has soared in the months since Donald Trump embraced the cryptocurrency, with some… [+] betting that Trump could drive the price of bitcoin up a lot.
Forbes Digital Assets
This week, Trump sent an invitation to attendees of the Bitcoin 2024 conference for a private fundraiser that includes a nearly $845,000 per person seat at a roundtable event. reported by Bloomberg.
The fundraiser will be hosted by conference organizer David Bailey. reported by the Washington Post, who has met with Trump multiple times and said Trump’s speech at the event will be “the most important political event in the history of bitcoin and a defining cultural moment for our society.”
Bailey’s conference was also the stage for El Salvador President Nayib Bukele to announce that the country would adopt bitcoin as legal tender in 2021.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market
Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
Getty Images
The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious
Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
Please note that our Privacy Policy, terms of use, cookiesIt is do not sell my personal information Has been updated.
CoinDesk is a awarded media outlet that covers the cryptocurrency industry. Its journalists follow a strict set of editorial policies. In November 2023, CoinDesk has been acquired by the Bullish group, owner of Optimistica regulated digital asset exchange. The Bullish Group is majority owned by Block.one; both companies have interests CoinDesk has a portfolio of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
“You Only Need 0.02 BTC to Retire Forever – Here’s Why” – Willy Woo
Inside the Banana Zone: The Cryptocurrency Trend Everyone’s Talking About – Raoul Pal
DIGITAL BLOCK! You Live in a Virtual Prison Without Knowing It: The 2025 WARNING by Whitney Webb
“Many Bitcoin Investors Will Be Multimillionaires Before 2030” – Michael Saylor
Raoul Pal – “This is a huge achievement! This is where I see Bitcoin and cryptocurrencies by 2030”
Bitcoin soars above $63,000 as money flows into new US investment products
Ethena downplays danger of letting traders use USDe to back risky bets – DL News
FRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
Zodialtd.com to revolutionize derivatives trading with WEB3 technology
Bitcoin Fails to Recover from Dovish FOMC Meeting: Why?
“You Only Need 0.02 BTC to Retire Forever – Here’s Why” – Willy Woo
Inside the Banana Zone: The Cryptocurrency Trend Everyone’s Talking About – Raoul Pal
DIGITAL BLOCK! You Live in a Virtual Prison Without Knowing It: The 2025 WARNING by Whitney Webb
“Many Bitcoin Investors Will Be Multimillionaires Before 2030” – Michael Saylor
Raoul Pal – “This is a huge achievement! This is where I see Bitcoin and cryptocurrencies by 2030”
-
News6 months agoBitcoin soars above $63,000 as money flows into new US investment products
-
DeFi6 months agoEthena downplays danger of letting traders use USDe to back risky bets – DL News
-
News6 months agoFRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
-
DeFi6 months agoZodialtd.com to revolutionize derivatives trading with WEB3 technology
-
Markets6 months agoBitcoin Fails to Recover from Dovish FOMC Meeting: Why?
-
DeFi8 months ago👀 Lido prepares its response to the recovery boom
-
DeFi8 months agoPancakeSwap integrates Zyfi for transparent, gas-free DeFi
-
Videos8 months agoBlackRock and Wall Street ready to take Bitcoin directly to $200,000 – Anthony Scaramucci
-
Videos8 months agoThis is the exact and unique time to sell your crypto asset – Raoul Pal
-
DeFi8 months ago
🏴☠️ Pump.Fun operated by Insider Exploit
-
Videos8 months ago“BlackRock HAS UNLEASHED a massive multi-trillion monster” – Lyn Alden and Eric Balchunas
-
Videos8 months agoONLY 2 WEEKS LEFT! Cryptocurrency Prices Are About to Go Crazy – Raoul Pal