Bitcoin Price Thread

I think the market was hoping for a purchasing schedule but all that was announced was that already seized coins will be added to the reserve.

I read today that that will put the US in possession of 1% of the BTC supply.It has around a 4% holding of the global gold supply.

 

So there's a reserve and a stockpile.

For the reserve:

"The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers."

For the shitcoin stockpile:

"consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings. The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings."


They can buy BTC but not the other garbage.

 

It blows my mind how they are just now thinking of this.

The government already sold over thousands of seized Bitcoin for under 60K, but I guess that's what happens when you have a fruit loop for a president

 

Thanks for clarifying.

Im surprised they havent left the door open for ethereum purchases.

 

I think Trump was just trying to get this passed through congress and including Ethereum and other tokens to the reserve might hinder congresses approval. At least this is a step in the right direction.

I'm hoping they say something about Ethereum during the summit. Many retail investors are staying away because the SEC under the Biden administration didn't allow Ethereum staking as part of the ETF proposal. We all know it's bound to happen with the Trump administration, and when it does, it will definitely take off, and hoping it's around the time for the Pectra upgrade.

 

Big day for crypto:

presidents round table
Non farm payrolls
Unemployment
Powell

 

While the SBR is finally on the books I have to wonder how much the gov actually has. Everyone says it’s 200k but I keep reading stuff that says law enforcement agencies have “lost” what they seized. If they actually lost the keys or something I guess it’s not bearish because it makes BTC more scarce. But what if it’s not lost and in the hands of dubious players? Do any of you know any concrete details about this seized coin? Are the rumors I’ve read about it being gone true?

 

You forget to mention Bhutan is Mining Bitcoins not buying them on market, and why they are able to mine because of cheap Hydro power... Big difference in risk profile for them

 

They fired from all cannons and couldn't pump the price up. I am praying for y'all.

 

liquidity for hopium is overflowing!

It looks like the next 1-4 weeks will be very good for bitcoin, I just hope there is no violent crash before the ngu