Bitcoinhas jumped by over 3% in the last 24 hours to reach around $105,750 on Jan. 24, amid renewed anticipations that the Donald Trump administration will establish a “strategic Bitcoin reserve” in the US.
BTC/USD daily price chart. Source: TradingView
A US Bitcoin reserve is “pretty much confirmed“
On Jan. 23, U.S. President Donald Trump signed an executive order establishing a working group on digital asset markets, marking a pivotal move toward securing US dominance in the fast-evolving cryptocurrency sector.
The order includes a directive to evaluate the creation of a strategic national digital assets stockpile, fueling optimism about the government’s growing embrace of blockchain technology and digital currencies.
However, it stops short of announcing a national Bitcoin reserve—an outcome eagerly anticipated by BTC investors. The lack of clarity initially triggered a brief dip in Bitcoin’s price, which fell to $102,220 minutes after the announcement.
The bearish reaction was short-lived, bolstered by US Senator and Bitcoin advocate Cynthia Lummis’ earlier cryptic post on X. Lummis teased her followers with the message, “Big things are coming,” igniting speculation that the US might be preparing to adopt Bitcoin as a strategic reserve asset.
Lummis’ message and the executive order spurred widespread optimism among crypto leaders, including Binance co-founder Changpeng Zhao, who hinted at the possibility of Bitcoin becoming part of the US national digital assets strategy.
Source: Changpeng Zhao
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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