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Bitcoin rose to a new all-time high of $109,558 during early trading hours in Asia, in line with President Donald Trump’s inauguration day. Market observers point to the increased possibility that Trump could establish a Strategic Bitcoin Reserve (SBR) via an executive order – one of a possible 100 he could sign immediately upon taking office.
Will there be a strategic Bitcoin reserve?
Talk of a US Bitcoin reserve under Trump has been going on for months, but speculation intensified when Polymarket, a cryptocurrency-based prediction platform, showed a sudden spike in the likelihood of such a reserve forming within Trump’s first 100 days . The odds, which reached 59%, quickly preceded Bitcoin’s pump to its new peak.
In the past, Trump campaigned on potentially transferring all BTC seized by law enforcement to a government-run reserve. While there has been no official confirmation, rumors that a formal order could be signed “as early as Inauguration Day” have fueled price momentum.
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Notably, several influential Bitcoin proponents met with the new government over the weekend, fueling SBR speculation. Senator John Barrasso wrote via X (formerly Twitter) on Sunday: “Senator Lummis and I had a great time talking to President Donald Trump this morning. Wyoming is ready for Inauguration Day tomorrow!”
Senator Cynthia Lummis, known for her pro-Bitcoin stance, amplified the rumors surrounding a government-led BTC initiative. In a January 17 post on Thanks for stopping by @jespow, @arjunsethi, @DavidLRipley!”
Lummis’ own legislative proposal, dubbed the “Bitcoin Bill,” famously proposes purchasing 1 million Bitcoin.
MicroStrategy Chairman Michael Saylor also attended meetings with the Trump administration’s Cabinet. He shared a photo on X of himself next to Robert F. Kennedy Jr. and Jared Kushner, captioned: “The future is bright”
Meanwhile, Eric Trump posted a photo with Saylor and “Crypto Czar” David Sacks, commenting: “To the moon! 🚀🚀 #Bitcoin @WorldLibertyFi @saylor @DavidSacks”
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Underscoring the White House’s apparent openness towards Bitcoin, Fred Thiel, chairman and CEO of MARA Holdings (NASDAQ:MARA) – one of America’s largest Bitcoin mining companies – reportedly sat with the new US Secretary of Defense at the reception of the vice president. night.
MacroScope (@MacroScope17), a prominent market analyst, noted about I expect there will be many headlines in the coming days, weeks and months. Unique situation in the history of the financial markets.”
BTC Inc CEO David Bailey, who played a notable role in encouraging then-candidate Trump’s pro-Bitcoin platform, referred to Trump’s recent foray into a personal memecoin TRUMP as “not my thing,” but emphasized gratitude for Trump’s pro-Bitcoin stance via X today.
“I will continue to do everything I can to support the President and his family’s embrace of Bitcoin and provide honest advice when called upon. America will be a Bitcoin and Crypto superpower and the winning is just beginning.” When a user asked Bailey whether certain major crypto-friendly actions — like freeing Ross Ulbricht, confirming an executive order stockpile, and co-sponsoring Senator Lummis’ SBR bill — would make up for the TRUMP memecoin controversy , Bailey replied: “all those things will happen and more”
Charles Edwards, CEO of Capriole Investments, observed that Bitcoin’s rapid decline followed by a rapid rebound to new highs could signal further gains. “Trust the second move,” Edwards noted, emphasizing that “when the markets move aggressively in one direction, and then everything turns around soon after, the second move has a better chance of being the real move that sets the new trend .”
He added that after “a good old-fashioned short squeeze,” investors realized the “overwhelming positivity” of the rumored developments – ranging from “higher odds of a BSR” to “the introduction of the MAGA army into crypto.” Still, Edwards acknowledged that “anything can happen” in such a volatile market environment.
At the time of writing, BTC was trading at $108,182.
Featured image from YouTube, chart from TradingView.com