- Trump reportedly aims to make crypto a ‘national policy.’
- Market expectations on U.S. strategic BTC reserve (SBR) soared amid recent reports.
The cryptocurrency enthusiasts are looking forward to the possibility that President-elect Donald Trump might issue supportive policies for cryptocurrencies on his first day in office. Some of these policies could involve temporarily halting legal actions against crypto, as well as establishing a Bitcoin Reserve (SBR), which is a proposed system for managing and safeguarding Bitcoin assets.
It’s worth noting that the probability of a U.S. Securities and Bond Rating (SBR) event, as per Polymarket, rose to 44% on January 17th. This increase occurred after news broke about the president planning to establish a ‘national Bitcoin reserve’ and designate cryptocurrency as a ‘national priority.’
Furthermore, according to Bloomberg, it’s possible that the new government will establish a digital currency advisory group to foster the development of policies and champion the industry’s causes within the sector.
As a crypto investor, I’ve noticed that reports suggest orders could have been issued on the 20th of this month, which is quite significant. Initially, the probability of this event happening surged to approximately 44% early in January. However, as we speak, it seems the odds have slightly decreased to around 41%. Despite this minor dip, I’m keeping a close eye on the situation and adjusting my investment strategies accordingly.
On another prediction site, Kalshi, the odds jumped to 64% for an SBR creation this year.
Similar Bitcoin enthusiasts, including investor Fred Krueger, expressed optimism about the potential for a U.S. Securities and Bond Regulation (SBR) announcement within the upcoming week.
Over the last fortnight, the chances of a particular event according to Polymarket predictions have more than doubled, climbing from 22% to a high of 44%. This significant rise coincides with Bitcoin’s surge from $90K to around $102K. This suggests that speculation surrounding the SBR event may be playing a substantial role in driving Bitcoin’s price fluctuations.
U.S. Senator comments…
Additionally, Senator Cynthia Lummis, a supporter of Bitcoin, has raised concerns about the U.S. government’s intention to sell 70,000 BTC that were seized from Silk Road. In her letter to the U.S. Marshals Service, she inquired about their plans for these bitcoins.
According to past sales records, our Service managed to sell around 195,092 Bitcoins from 2014 up until 2023, with the accumulated value reaching roughly $366.6 million.
The letter went on to say,
Currently, the equivalent value of those Bitcoins on today’s market exceeds $18.9 billion. This represents an enormous, unrealized loss of approximately $18.5 billion for U.S. taxpayers, which translates to a devastating 98% potential decrease in value.
The BTC allotted by the new government for establishing the SBR was supposed to include this portion. However, as reported at the time of publishing, 69,000 Bitcoins from the Silk Road, which had been approved for sale, remained untouched according to Arkham’s latest data.
Essentially, the U.S. government continues to possess approximately 198,000 Bitcoins, valued at over $20 billion. If these Bitcoins were not sold prior to the incoming administration taking office, they could potentially be reallocated or used for a Stabilization Reserve Bond (SBR).
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2025-01-18 02:15