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Trump Unlikely to Announce Strategic Bitcoin Reserve
Polymarket bettors don’t seem convinced that Trump will announce a strategic Bitcoin reserve in the US.
With Bitcoin 2024 Starting this week, all eyes will be on former President Donald Trump to see what comments he will make about Bitcoin (BTC) and the cryptocurrency sector in general.
Among the speculations, bettors at Polymarket are betting on whether Trump will announce plans for a strategic Bitcoin reserve in the United States at the conference.
The specific wager will become affirmative if Donald Trump announces the “creation of a U.S. strategic Bitcoin reserve upon becoming president” by the end of July 28. The primary source for this bet will be official recordings or transcripts of any such speeches at the conference.
If Trump doesn’t mention a backup plan at the conference, the gamble will be a no-win. Currently, there’s only a 22% chance Trump will announce a backup by July 28.
When the bet was first launched, bettors believed there was a 76% chance that Trump would make such an announcement.
Trump Creates Strategic Bitcoin Reserve
Last week, rumors began circulating on social media that Trump might announce Bitcoin as a strategic tool. Reserve resource for the United States during the interview.
These speculations began with Goalkeeper Dennisco-founder of Satoshi Act, which claims credible sources confirm Trump’s intentions. Porter’s tweet set off a firestorm of speculation that lasted through the weekend, but has since lost steam since Biden announced resign from the race for the presidency of the United States.
If the US adopted Bitcoin as strategic reserve activitiescould leverage its position as the largest national holding of Bitcoin and echo Trump’s sentiment that all remaining Bitcoin should be mined in the United States.
A Bitcoin strategic reserve asset would require the U.S. Treasury to hold large amounts of Bitcoin as part of its reserve portfolio, similar to how it already does with gold or foreign currencies.