Bitcoin’s $100K Rally: Trump, Congress, and Crypto Adoption

BTC returned above $100,000 following bullish speculations by crypto experts.
Brian Armstrong endorsed a Bitcoin Reserve for the U.S. after meeting with Trump.
Michael Novogratz thinks Bitcoin could surge to $500K during Trump’s administration.

Bitcoin climbed back above $100,000 following bullish speculations by renowned cryptocurrency stakeholders, including Coinbase CEO Brian Armstrong and Michael Novogratz, CEO of Galaxy Investment Partners. Both highlighted factors that could drive Bitcoin’s value higher, including rumors of Donald Trump considering Bitcoin as part of a U.S. Strategic Reserve.

In a recent podcast, a crypto analyst noted that Armstrong endorsed a Strategic Bitcoin Reserve for the U.S. after having a private meeting with Trump. Reports suggest Trump may designate cryptocurrency as a national priority, a move Armstrong believes could significantly benefit the U.S. crypto market.

Congressional Changes Could Drive Crypto Adoption

During an interview, Armstrong commended the United States’ new Congress, describing it as the “most crypto-friendly Congress ever.” The Coinbase CEO said Trump’s administration, alongside the new Congress, could give the U.S. crypto industry a chance at regulatory clarity. According to Armstrong, the SEC and the CFTC can collaborate on rule-making, or Congress could step in and pass new legislation.

Meanwhile, Armstrong noted that the new era of crypto development goes beyond Bitcoin. According to him, several other cryptocurrencies benefit from the positive vibe the Trump administration will introduce into the crypto space. Armstrong was specific about cryptocurrencies like TON and WLD, deployed in emerging markets, including Uniswap and some layer-2 solutions like Optimism that are making waves in the DeFi space.

In the meantime, Novogratz thinks the U.S. should establish a Strategic Bitcoin Reserve, showing the world that it wants to be a technology-first country. The investment expert thinks such a move would trigger a significant rally for BTC that could see the cryptocurrency’s value reach $500,000.

Novogratz believes actualizing the Strategic Bitcoin Reserve would trigger a massive Bitcoin adoption on national levels. Novogratz also noted that Trump’s return to office could act as a catalyst for a broader crypto market rally. Analysts predict that assets like ONDO, SOL, and SUI, which have close ties to the incoming administration, may lead the post-inauguration surge.

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