BTC/USD Golden Cross + Bitcoin Act: The Perfect Storm? Now that Donald Trump is set to become the next president of the United States, the U.S. could soon build a strategic Bitcoin reserve.
This initiative, proposed under the pending “Bitcoin Act,” aims to let the U.S. government acquire up to 200,000 Bitcoin per year over five years, totaling up to 1 million BTC, or nearly 5% of the currency’s maximum supply. At current prices, this could cost over $80 billion.
The U.S. already holds around 200,000 Bitcoin, largely confiscated from criminals. Trump has pledged that under his administration, seized Bitcoin wouldn’t be sold.
The price of bitcoin is trading at a new fresh record high above the $86,000 level. A golden cross pattern has formed with the 50-day and 200-day daily moving average crossing each other.
