Bitcoin hit a new all-time high of $109,558 during early Asian trading hours, coinciding with President Donald Trump’s inauguration day. Market observers point to a high probability that Trump could establish a strategic bitcoin reserve (SBR) through an executive order — possibly one of 100 he could sign shortly after taking office.
Is A Strategic Bitcoin Reserve Coming?
Talk of a US bitcoin reserve under Trump has been swirling for months, however Speculation When Polymarket, a crypto-based forecasting platform, showed a sudden increase in the odds of such reserves forming in Trump’s first 100 days. The odds, which reached 59%, pumped Bitcoin to its fresh peak.
In the past, Trump campaigned probabilistically All confiscated are being transferred BTC by law enforcement in reserves held by the government. While there has been no official confirmation, rumors that a formal order could be signed “before opening day” have fueled the price movement.
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Notably, several influential Bitcoin advocates met with the incoming administration last weekend, fueling SBR speculation. Senator John Barrasso wrote via X (formerly Twitter) on Sunday: “Senator Loomis and I had a great time speaking with President Donald Trump this morning. Wyoming is ready for Opening Day tomorrow!”
Senator Cynthia LoomisKnown for her pro-Bitcoin stance, further fueled the debate surrounding the government-led BTC initiative. In a Jan. 17 post on X, he said: “Strategic bitcoin reserve and working hard to complete digital asset legislation. Thanks for stopping by @jespow, @arjunsethi, @DavidLRipley!”
Loomis’ own legislative proposal, called the “Bitcoin Bill,” famously proposes to buy 1 million bitcoins.
MicroStrategy Chairman Michael Saylor also participated in meetings with the Trump administration’s cabinet. He Robert F. Kennedy Jr. and Jared Kushner shared a photo on his X, captioned: “The future is right.”
Meanwhile, Eric Trump posted a picture with Sailor and the “Crypto Czar”. David SachsCommenting: “To the moon! 🚀🚀 #Bitcoin @WorldLibertyFi @saylor @DavidSacks”
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Further demonstrating the White House’s apparent openness to bitcoin, Fred Thiel, chairman and CEO of Mara Holdings (NASDAQ: MARA ) – one of the largest US bitcoin mining companies – will host the Vice President’s reception on Saturday as the US Secretary of Defense. were sitting with the night
MacroScope (@MacroScope17), a leading market analyst, noted On X: “Keep in mind that the reports and photos we’re seeing involving Trump and his incoming cabinet with BTC advocates (Scott Besant at Crypto Ball, etc.) are just the tip of what’s going on. Expect plenty of headlines in the coming days, weeks and months.”
David Bailey, CEO of BTC Inc., who played a key role in promoting then-candidate Trump’s pro-Bitcoin platform, mentioned a recent personal move by Trump. memecoin TRUMP Like “not my cup of tea,” but emphasized Thanks to Trump’s pro-Bitcoin stance by X today.
“I will continue to do what I can to support the President and his family in adopting Bitcoin and providing honest advice when called upon. America will be a Bitcoin and crypto superpower and the victory has only just begun. When a user Asked Bailey whether some major crypto-friendly actions — such as exonerating Ross Ulbricht, authorizing a reserve by executive order, and Sen. Loomis’ SBR bill Co-Sponsoring — Trump Will Meet Memecoin Controversy, Bailey Responds: “All those things will happen and more”
Charles Edwards, CEO of Capriol Investments was seen That rapid return to new highs after Bitcoin’s bullish move down could signal further gains. “Rely on the second move,” Edwards commented, emphasizing that “when the market moves aggressively in one direction, and then reverses it shortly thereafter, the real move in the second move There is a high probability of happening that sets a new trend.”
He added that after “a good old-fashioned little squeeze”, investors felt the “overwhelming positivity” of the rumored developments – from “the high potential of a BSR” to the “onboarding of the MAGA army in crypto”. Still, Edwards acknowledged that “anything can happen” in such a volatile market environment.
At press time, BTC traded at $108,182.
Featured images from YouTube, charts from TradingView.com
