“If the US creates a strategic reserve in bitcoin, its price will reach $500,000. This is what the head of Galaxy Digital, Mike Novogratz, believes. “If we get a bitcoin reserve, as a person who owns a lot of coins, I won’t cry. I think Bitcoin is moving to $500,000,” the investor commented on Bloomberg Television. The proposal to create a national strategic reserve of digital gold to strengthen the position of the dollar was voiced by the newly elected US President Donald […]”, — write: businessua.com.ua
If the US creates a strategic reserve in bitcoin, its price will reach $500,000. This is what the head of Galaxy Digital, Mike Novogratz, believes.
“If we get a bitcoin reserve like a person who owns a lot of coins, I will not cry. I think Bitcoin is moving to $500,000,” the investor commented on Bloomberg Television.
The proposal to create a national strategic reserve of digital gold to strengthen the position of the dollar was voiced by the newly elected US President Donald Trump as part of his election campaign. He also promised not to sell bitcoins that are already owned by the government or will be acquired in the future.
A similar initiative was proposed by other American politicians, including Senator Cynthia Lummis and then-presidential candidate Robert Kennedy Jr.
However, Novogratz doubts the creation of a strategic bitcoin reserve during Trump’s administration: the initiative could be hindered by opposition between power structures. In addition, in his opinion, the dollar – the currency of the country with the strongest army and the largest economy in the world – does not need support.
“It would be a smart move for the US to use existing bitcoin, perhaps buy more, and demonstrate to the world its intention to become a country where technology, cryptocurrencies and digital assets are a priority. I don’t think the dollar needs anything to support it,” he added.
If the reserve is still created, it could be the beginning of a new “arms race”, in which the authorities of many countries will begin to actively buy bitcoins.
About 200,000 BTC — 1% of all coins in circulation — are under the control of the US government.
Earlier, CoinShares analysts shared an opinion about the prospects of creating a bitcoin reserve under the Trump administration.
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