Donald Trump will take office after the inauguration, which will be held on 20 January 2025. Before this date, the politician is engaged in forming a team. And there is already a place in it for fans of cryptocurrencies.

In particular, the head of Cantor Fitzgerald Howard Lutnick may become the U.S. Secretary of Commerce. He has repeatedly supported the crypto sphere and voiced the advantages of digital assets based on blockchain.

Former US President Donald Trump at the Bitcoin 2024 cryptocurrency conference

Theresa Goody Guillen may take the place of the chair of the Securities Commission, which under Gary Gensler’s leadership created a lot of problems for the coin industry. She previously served as an SEC lawyer, but eventually began representing cryptocurrency companies.

With this in mind, Guillen is considered an official who can benefit the coin niche. That said, Masa co-founder Brendan Playford believes that this appointment guarantees instant positive change for the crypto.

Bitcoin as a reserve in the US

Donald Trump talked about the prospect of using cryptocurrency for government purposes back in the summer. For example, in early August 2024, he announced the prospect of paying off the $35 trillion national debt “with a little cryptocurrency cheque”.

As the politician noted, this would require “giving them some Bitcoin.”

Then in September, Trump repeated the idea. Here’s the relevant video.

Initially, Donald proposed to refuse at the state level to sell coins that were previously confiscated by the US government from criminals. In this way, the authorities could wait for a global rise in the rate of digital assets and use it for the good of the country.

However, at the end of July, Senator Cynthia Lummis introduced a bill directly for the purchase of bitcoins. It requires the government to purchase one million BTC and store the cryptocurrency for at least twenty years.

During this time, the crypto cannot be used. The only exception here is the possibility of selling coins for the sake of paying off the national debt of the country.

After Trump’s election victory, Lummis confirmed that a strategic bitcoin reserve will still be created. According to Cynthia, it will be able to solve the problem of the growing US national debt and repay it. However, Avik Roy, head of a non-profit think tank, believes such comments are unwarranted.

According to him, Bitcoin will not solve the problem of the U.S. national debt, because it is too large. Well, all such talks overestimate the possibilities of the first cryptocurrency.

The growth of the US state debt

In general, the purchase of BTC will not be superfluous, but there will be no miracle in the country’s economy because of this. Here is Roy’s commentary on the matter, which is quoted by Cointelegraph.

Creating a bitcoin reserve is a good idea, but it won’t make the problem go away. You’re still going to have to make budget reforms to get us out of a $2 trillion a year federal deficit.

However, the bond market will definitely benefit from such an idea, says the expert. He continues.

At the very least, we have the opportunity to provide enough bitcoin dollars so that the bond markets don’t feel like the US is going broke.

However, this is not an ideal scenario either. According to Roy, something like this is in a position to undermine US Bitcoin reserves along the lines of what happened to gold in the seventies.

That said, the first cryptocurrency continues to surprise with its ability to grow. Today, BTC took the $98,000 level for the first time in history. Here is the corresponding chart.

15-minute chart of Bitcoin BTC exchange rate

Amid the growth of the coin market, the total amount of bitcoins in the basis of twelve spot ETFs for the first cryptocurrency in the United States exceeded the $100 billion level for the first time. This volume is equivalent to 5.39 percent of the total BTC capitalisation.

Bitcoin value growth at the core of spot cryptocurrency ETFs in the US

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Spot Bitcoin ETFs recorded net inflows of $733.5 million at the end of Wednesday, analysts at The Block noted. The day before, the figure was 837.36 million, that is, the interest of players in what is happening with exchange-traded funds on cryptocurrency is now serious.

Inflow and outflow of funds from spot Bitcoin-ETFs in the US

Judging by what is happening in the market, the growth of Bitcoin and other coins will continue. For example, users of decentralised betting platform Polymarket estimate the prospect of BTC growing to $100,000 in 2024 at 91 percent.

The probability of Bitcoin’s growth to 100 thousand dollars according to the version of Polymarket users

Accordingly, such a prospect is almost beyond doubt for representatives of the crypto market.

The popularity of digital assets is also noticeable by other indicators. In particular, trading volumes on the Binance exchange over the past month outpaced the corresponding indicators of the world’s largest stock exchanges.

Comparison of trading volumes on Binance with Nasdaq and NYSE exchanges

Binance’s result takes into account spot and derivatives trading. In doing so, it outperforms the NASDAQ by 10 per cent and twice the NYSE’s figure.


Analysts recognise that the acquisition of the world's top cryptocurrency is in a position to benefit nations. However, the purchase together with further growth of the asset will not provide an economic miracle in a country. Accordingly, the acquisition of Bitcoin should be considered only as a component of such changes.
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