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  • Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas pushes crypto strategy with new Bitcoin reserve plan

    • The state legislation sets aside $10 million for Bitcoin accumulation.
    • Texas is preparing a formal tender to choose a custodian for the reserve.
    • New Hampshire authorised a Bitcoin reserve and approved a $100 million Bitcoin bond.

    Texas is moving ahead with one of the most ambitious state-level crypto strategies in the country as it begins shaping the framework for a government Bitcoin reserve.

    The state has now taken its first formal step by acquiring $5 million in shares of BlackRock’s iShares Bitcoin Trust.

    The purchase is part of a wider plan triggered by legislation passed earlier this year, which allocated $10 million for future Bitcoin accumulation.

    The early activity positions Texas to become the first US state to hold a dedicated cryptocurrency reserve, giving it a lead in a growing competition among states exploring digital asset policies.

    Texas builds foundation for Bitcoin reserve

    The state has been gathering information from the cryptocurrency industry to help design how its reserve will operate.

    The review began after Texas issued a request for information in September seeking guidance on best practices for storage, security, and management.

    Industry groups sent detailed submissions covering custody models, investment structures, governance frameworks, and security systems.

    The process is part of a wider effort to ensure the reserve can be managed with clear procedures once it transitions from planning to execution.

    Texas officials are expected to follow this phase with a formal request for proposal.

    The tender will be used to select a custodian and determine the final operational rules for the programme.

    The recent $5 million allocation acts as a temporary measure rather than direct Bitcoin ownership while the state completes its selection process, according to a CoinDesk report.

    States explore government crypto strategies

    Other states have also gained exposure to Bitcoin, though through different channels.

    Michigan and Wisconsin accessed cryptocurrency markets through public-employee retirement funds.

    Wisconsin sold a $350 million allocation in May, according to public records.

    These moves reflect growing institutional interest at the state level, even in cases where governments have not yet adopted dedicated reserves.

    Several states are actively studying the idea of holding Bitcoin for strategic purposes.

    New Hampshire has authorised the creation of a government Bitcoin reserve, although it has not yet made any purchases.

    Last week, the New Hampshire Business Finance Authority approved a $100 million Bitcoin bond designed to support an economic development fund backed by cryptocurrency.

    The structure relies on private sector activity rather than direct state accumulation.

    Early development continues nationwide

    Arizona is also taking steps toward a government-level reserve.

    Its legislation directs unclaimed cryptocurrency assets held by the state into a dedicated reserve.

    The plan creates an initial legal foundation that could support future accumulation, although the full reserve framework is still in development.

    These early efforts reflect a rising interest among states in integrating digital assets into long-term financial planning.

    The state-level activity is unfolding alongside federal discussions.

    President Donald Trump has publicly supported the idea of a national Bitcoin investment strategy.

    The administration has issued an executive order directing officials to begin planning for a federal reserve structure.

    Government teams working on the project are now waiting for congressional approval before advancing to the next stage.

    Texas sets the pace in state crypto adoption

    Texas remains the most advanced of the state-level initiatives due to its legislative backing and its first confirmed investment.

    The move signals a shift from exploratory interest to practical implementation, with a structured plan for selecting custodians and defining reserve operations.

    The next steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are finalised.

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  • Bitcoin price forecast: White House crypto report omitted BTC reserve update

    Bitcoin price forecast: White House crypto report omitted BTC reserve update

    Bitcoin price forecast

    • White House report omitted Bitcoin reserve update.
    • BTC holds steady near $118k with bullish technical signals.
    • ETF inflows and low selling pressure fuel price optimism.

    Bitcoin (BTC) is entering August 2025 in a position of strength, despite growing anticipation over a missed opportunity in Washington.

    On July 31, the White House released its long-awaited crypto policy report, but to the dismay of Bitcoin advocates, it made no substantive update on the Strategic Bitcoin Reserve initiative first announced in March.

    Nevertheless, as the federal silence lingered, market indicators revealed that BTC could be gearing up for another bullish breakout.

    This disconnect between regulatory direction and market performance is reshaping sentiment as traders weigh both political cues and on-chain metrics.

    White House fails to clarify on BTC reserve

    For months, Bitcoin supporters had looked forward to the July crypto policy report, especially after the Trump administration signalled a pro-Bitcoin stance earlier this year.

    In March, an executive order established the Strategic Bitcoin Reserve, drawing comparisons to El Salvador’s bold accumulation strategy.

    Hopes were high that the report would outline further steps to expand the reserve or detail future BTC acquisitions by the US government.

    However, the 166-page report only briefly mentioned the reserve initiative. Tucked away in its final section, the mention served more as a recap than an expansion plan.

    While the document introduced detailed proposals on regulation, banking access, and tax reform, it failed to address whether the US would actively purchase Bitcoin as a strategic asset.

    The omission disappointed many in the crypto community. Several analysts called it a missed opportunity, especially given Bitcoin’s growing stature on the global asset leaderboard.

    Still, others viewed the report’s tone as a step forward, with Bitcoin now being discussed independently from other digital assets — a clear sign of evolving recognition.

    Bitcoin (BTC) is resilient despite political ambiguity

    Even without direct government support through reserve accumulation, Bitcoin’s performance remains robust.

    The cryptocurrency surged to a new all-time high of approximately $123,000 on July 14.

    After a modest correction, it has been consolidating in a tight range between $117,000 and $118,000, currently trading at $118,383.

    This steady behaviour comes even as the broader crypto market has experienced more dramatic swings.

    The contrast has sparked speculation that Bitcoin’s price is preparing for a sharp move. Given the current low selling pressure and increased institutional interest, any upward shift could gather momentum quickly.

    The GENIUS Act, signed recently into law, also added to Bitcoin’s tailwinds by making stablecoins more accessible.

    Although rate cuts did not materialise in the latest Federal Reserve decision, the steady macro environment appears to be offering BTC room to rally independently.

    ETF inflows and technical signals remain bullish

    Market structure continues to favour the bulls. Spot Bitcoin ETFs saw massive inflows in mid-July, with over $2 billion entering the market in just two days.

    BlackRock’s IBIT alone now holds more than $80 billion in assets under management. These ETFs are now among the largest Bitcoin holders, owning around 1.4 million BTC — roughly 6.6% of the total supply.

    On the technical side, the MVRV ratio currently sits near its 365-day average at 2.2, historically a level that precedes major rallies.

    Bollinger Bands are tightening, and the RSI remains neutral at 42.65, suggesting there’s still room for price expansion.

    Bitcoin price analysis

    Going by the technical analysis, if BTC breaks above $119,900, a return to its all-time high could be swift.

    Trade volume also supports this outlook. In the past 24 hours alone, Bitcoin’s volume rose by 12%, reaching $70.3 billion.

    This growing activity, paired with strong holding behaviour among long-term investors, signals that upward pressure could intensify in the coming days.

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  • Pakistan to create strategic Bitcoin reserve, earmarks 2000MW for crypto mining

    Pakistan to create strategic Bitcoin reserve, earmarks 2000MW for crypto mining

    Pakistan to create strategic Bitcoin reserve, earmarks 2000MW for crypto mining

    Pakistan is set to embark on a significant foray into the cryptocurrency landscape, with the government announcing plans to establish a strategic Bitcoin (BTC) reserve and allocate substantial energy resources to support Bitcoin mining operations.

    The announcement, delivered by Minister of State for Blockchain and Crypto Bilal Bin Saqib at the Bitcoin 2025 conference in Las Vegas on Wednesday, signals a bold new direction for the nation’s digital asset policy.

    Minister Bin Saqib revealed that Pakistan’s initiative to create a strategic Bitcoin reserve draws inspiration from similar nascent plans within US President Donald Trump’s administration.

    The US strategy reportedly involves populating its reserve, at least initially, with Bitcoin holdings seized from criminal and civil forfeitures, estimated to be around 200,000 BTC.

    He also noted that the Pakistani government is closely monitoring the US’s legislative efforts concerning stablecoins, specifically the ‘Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act,’ stating they are following it “very carefully.”

    Emphasizing a long-term commitment, Bin Saqib assured that, much like the bitcoins earmarked for the U.S. strategic reserve, Pakistan does not intend to liquidate its holdings.

    “This wallet, the national bitcoin wallet, is not for speculation or hype,” Bin Saqib declared.

    “We will be holding these bitcoins and we will never, ever sell them.”

    This HODL (Hold On for Dear Life) approach underscores a belief in Bitcoin’s enduring value and its potential as a national asset.

    Powering the future: energy allocation for mining and AI

    Beyond the strategic reserve, Pakistan is taking concrete steps to foster a domestic Bitcoin mining industry.

    Minister Bin Saqib announced that the government has earmarked a substantial 2,000 megawatts of electricity specifically for Bitcoin mining operations and AI data centers.

    This significant energy allocation is a clear invitation to global players in the crypto mining and infrastructure sectors.

    “We want to welcome all miners to come to Pakistan, all the infrastructure players to come to Pakistan and build with us,” Bin Saqib proclaimed, signaling an open-door policy aimed at attracting international investment and expertise to develop the country’s digital infrastructure.

    ‘Just the beginning’: a broader vision for crypto adoption

    According to Minister Bin Saqib, the establishment of a Bitcoin strategic reserve and the support for mining are merely the initial steps in Pakistan’s broader embrace of the cryptocurrency industry.

    He highlighted the transformative potential of digital assets for the nation’s large unbanked population.

    “We have over 100 million unbanked people. They lack tools for saving, for investment, and we want to change that. We want them to break their economic classes,” Bin Saqib explained.

    “And I really believe that crypto and blockchain can help us take that quantum leap.”

    He further articulated a vision that includes tokenizing illiquid national assets and implementing digital identification systems.

    “So Pakistan is looking for allies. Pakistan is looking for access, because Pakistan wants to build,” he concluded, emphasizing a collaborative approach to achieving these ambitious goals.

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  • Florida scraps Bitcoin reserve bills as state-level crypto adoption faces setbacks

    Florida scraps Bitcoin reserve bills as state-level crypto adoption faces setbacks

    Florida, Bitcoin reserve bills

    • Florida’s decision follows a broader trend of legislative setbacks surrounding Bitcoin reserve proposals.
    • Similar bills have been shelved or blocked in states like Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota.
    • Only 19 US states are still actively exploring legislation related to state Bitcoin reserves.

    Florida has withdrawn two key bills aimed at creating a state-level strategic Bitcoin (BTC) reserve, marking a significant pause in momentum for state-driven crypto investment efforts across the US.

    House Bill 487 and Senate Bill 550, both introduced in February 2025, have now been “indefinitely postponed and withdrawn from consideration,” according to the Florida Senate website.

    The bills had sought to authorize the use of public funds to invest in Bitcoin, signaling a potential shift in how state reserves are managed.

    With their withdrawal, Florida becomes the latest in a growing list of states backing away from formal crypto reserve legislation.

    Multiple states stall on BTC investment plans

    Florida’s decision follows a broader trend of legislative setbacks surrounding Bitcoin reserve proposals.

    Similar bills have been shelved or blocked in states like Wyoming, Pennsylvania, Oklahoma, Montana, North Dakota, and South Dakota.

    While many of these initiatives remain in early committee stages, few have progressed far enough to secure full legislative approval.

    Arizona had shown the most progress earlier this year with SB 1025, which passed a state House vote before being vetoed by Governor Katie Hobbs.

    The bill would have permitted investment of seized state funds into Bitcoin, representing the most advanced attempt at institutional BTC adoption at the state level.

    Despite the veto of SB 1025, Arizona is still considering SB 1373, a separate proposal that would allow up to 10% of state funds to be allocated to digital assets, including Bitcoin.

    However, that bill has yet to reach a final vote, and its fate remains uncertain amid growing legislative caution.

    Is Bitcoin legislation losing steam nationwide?

    According to data from Bitcoin Laws, only 19 US states are still actively exploring legislation related to state Bitcoin reserves (SBRs), with 36 bills under discussion.

    The number has dropped significantly over the past six months, reflecting increased hesitation among lawmakers due to market volatility, fiscal risks, and regulatory uncertainty.

    Much of this retreat has been attributed to concerns like those cited by Arizona Governor Katie Hobbs, who pointed to the lack of long-term historical data supporting Bitcoin’s stability or reliability for public fund management.

    Despite the slowdown at the state level, Bitcoin reserve discussions are gaining traction federally.

    President Donald Trump has reportedly signed an executive order directing agencies to explore the feasibility of a national Bitcoin reserve system.

    Still, skepticism remains. BitMEX co-founder Arthur Hayes recently argued that the US is unlikely to meaningfully expand its crypto holdings, citing entrenched financial conservatism and cultural resistance toward Bitcoin.

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  • Crypto prices fall despite Trump’s Bitcoin reserve plan

    Crypto prices fall despite Trump’s Bitcoin reserve plan

    Bitcoin dips to $86k

    • Bitcoin was trading at around $88,000, dropping 1.50% in the last 24 hours
    • Ethereum, XRP, Solana, and Cardano have also seen prices dip following news of the Digital Asset Stockpile
    • TD Cowan analysts consider it a “compromise” and that the reserve is a positive move from the White House

    Crypto prices remained unchanged on Friday after US President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve.

    Data from CoinMarketCap shows Bitcoin is trading around the $88,000 mark, dropping over 1.50% in the last 24 hours.

    Bitcoin price chart. Source: CoinMarketCap

    Ethereum, XRP, Solana, and Cardano have also remained relatively flat following the news. Solana saw the biggest drop, 5% over 24 hours, and is currently trading at $142. Earlier this month, Trump revealed that these would be the coins included in the crypto reserve.

    Notably, these coins weren’t mentioned in Trump’s executive order detailing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, which he signed on March 6.

    A “compromise”

    In a post on X, White House artificial intelligence (AI) and crypto czar David Sacks said:

    “The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.”

    Sacks also indicated that the executive order authorized the Secretaries of Treasury and Commerce “to develop budget-neutral strategies for acquiring additional Bitcoin, provided that those strategies have no incremental costs on American taxpayers.”

    In response, Michael Saylor, chair and CEO of Strategy, said: “I have a few budget-neutral strategies for acquiring additional Bitcoin.”

    With the news of the Strategic Bitcoin Reserve not pushing prices higher, TD Cowen analysts said they considered this a positive move from the White House, adding:

    “We view this as a compromise. The government is not spending taxpayer dollars to acquire new digital assets. It is simply not selling the ones that it seizes.”

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  • Montana house representatives reject Bitcoin reserve bill

    Montana house representatives reject Bitcoin reserve bill

    Montana house representatives reject Bitcoin reserve bill

    • Montana House has rejected the Bitcoin reserve bill.
    • The Bitcoin reserve bill aimed for $50M in crypto.
    • The house cited risk to taxpayer funds.

    On February 22, 2025, Montana’s House of Representatives decisively voted down House Bill No. 429, a proposal that aimed to establish Bitcoin (BTC) as a state reserve asset.

    The 41-59 vote marked a significant setback for advocates of integrating cryptocurrency into Montana’s financial strategy, highlighting a deep divide over the role of digital assets in public finance.

    Introduced by Representative Curtis Schomer earlier in February, the bill sought to diversify the state’s investment portfolio by creating a special revenue account. This account would have allowed the state treasurer to allocate up to $50 million for investments in stablecoins, precious metals, and cryptocurrencies with a market capitalization exceeding $750 billion over the past year, a threshold currently met only by Bitcoin.

    Supporters argued that such a move could yield higher returns than traditional bond investments, positioning Montana as a forward-thinking player in the evolving financial landscape.

    Montana house representatives wary of risks involved

    Despite clearing the House Business and Labor Committee on February 19 with a 12-8 vote, backed by Republicans and opposed by Democrats, the bill faced stiff resistance during its second reading in the House.

    Fiscal conservatives, including many Republicans, voiced concerns over the speculative nature of Bitcoin, emphasizing the state’s duty to protect taxpayer money.

    Representative Steven Kelly captured this sentiment during the House Floor Session, stating, “It’s still taxpayer money, and we’re responsible for it. We need to protect it. These types of investments are way too risky.”

    Representative Jane Gillette echoed these doubts, pointing out that the bill lacked clear guidelines on how the funds would be managed, while Representative Bill Mercer warned that Bitcoin’s history of dramatic price swings made it an imprudent choice for public funds.

    On the other side, advocates like Representative Lee Demming argued that embracing digital assets could safeguard Montana’s reserves against inflation and bolster long-term financial growth, a perspective shared by Bitcoin proponents nationwide.

    The rejection of HB 429 effectively kills the proposal for now, requiring any future efforts to start anew in Montana’s legislature.

    US states push for Bitcoin reserves

    Montana’s decision stands in contrast to a growing trend among US states exploring Bitcoin as a reserve asset.

    Approximately 24 states, including Utah, Arizona, Oklahoma, Texas, and Ohio, have introduced similar legislation, with Utah’s HB230 making the most progress by allowing up to 5% of public funds to be invested in digital assets.

    Nationally and globally, the push for Bitcoin reserves is gaining traction, with countries like Switzerland, Brazil, Japan, and Russia also weighing the cryptocurrency’s potential as a strategic asset.

    Dennis Porter, CEO of the Satoshi Action Fund, which collaborated with Montana legislators like Schomer and Senator Daniel Zolnikov, expressed disappointment with Montana’s move but remained optimistic about the broader movement. He noted that Bitcoin’s decentralized structure and limited supply make it an attractive hedge against economic uncertainty.

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  • Oklahoma introduces strategic Bitcoin reserve act

    Oklahoma introduces strategic Bitcoin reserve act

    • Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in having Bitcoin reserve proposals.
    • State savings accounts and pension funds will have the nod to invest in BTC if the bill passes.

    Oklahoma is the latest US state to eye a strategic Bitcoin reserve after Rep. Cody Maynard officially introduced a ‘Strategic Bitcoin Reserve Act.’

    On Wednesday, January 15, 2025, Rep. Cody Maynard, announced the introduction of the groundbreaking proposal that could see Oklahoma embrace sound money with addition of BTC to state’s strategic reserve.

    “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”

    Sixth US state with a BTC reserve proposal

    The announcement follows similar initiatives in Texas, Pennsylvania, Ohio, New Hampshire and North Dakota. With Oklahoma taking this step, six US states are now actively looking at bills aimed at incorporating BTC into their financial systems.

     “This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.”

    President Donald Trump supports the idea of a US bitcoin reserve, a move that has legislators optimistic the new administration will make America the hub of crypto and BTC. US Senator Cynthia Lummis recently introduced the Bitcoin Act, which seeks to have the US government add BTC to its strategic reserve.

    Oklahoma’s new bill seeks to have the state’s savings accounts and pension funds invest in Bitcoin.

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  • Vancouver mayor proposes Bitcoin as city reserve asset for stability

    Vancouver mayor proposes Bitcoin as city reserve asset for stability

    Vancouver mayor proposes Bitcoin as city reserve asset for stability
    • Vancouver Mayor Ken Sim proposes Bitcoin as a reserve asset to protect purchasing power.
    • Jeff Booth supports Ken Sim’s proposal, recognizing Bitcoin’s potential as a strategic asset.
    • Former USA CFTC Chairman Giancarlo advocates for Bitcoin reserves, likening it to gold.

    Vancouver Mayor Ken Sim has introduced a bold proposal to explore Bitcoin as a reserve asset for the city, aiming to diversify its financial resources and safeguard its purchasing power.

    The motion, titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” is scheduled to be officially presented to the Vancouver City Council on December 11, 2024. The proposal marks a significant shift toward cryptocurrency adoption by a major city government.

    Protecting Vancouver from economic shocks using Bitcoin

    In his motion, Mayor Sim seeks to investigate how Bitcoin could help protect Vancouver from economic volatility and inflation by adding it to the city’s reserves.

    It comes amid growing interest in Bitcoin as a reserve asset at the government level, particularly in the United States. Several US lawmakers have recently proposed holding Bitcoin in public financial reserves, highlighting the increasing consideration of cryptocurrency in national economic strategies.

    Although the full text of the proposal has not yet been made available, Bitcoin advocate Jeff Booth voiced support for Mayor Sim’s plan during a discussion on X Spaces on November 26, 2024. Booth described the motion as an important step in recognizing Bitcoin’s potential as a strategic financial asset for the city.

    Former CFTC chairman supports a Bitcoin reserve in the USA

    Meanwhile, Christopher Giancarlo, the former Chairman of the US Commodity Futures Trading Commission (CFTC), has been vocal about the potential for Bitcoin as a strategic reserve asset for the US.

    In a recent interview, Giancarlo referred to Bitcoin as the “world’s first digital commodity,” noting its similarities to traditional commodities such as gold, oil, and copper, which nations have historically hoarded. He praised the idea of a national Bitcoin reserve, emphasizing its potential to provide long-term financial stability in an increasingly digital economy.

    Giancarlo also acknowledged concerns about Bitcoin’s speculative nature but drew parallels to the dot-com bubble, where early-stage speculation gave way to technological breakthroughs that revolutionized industries. He believes the same evolution could occur with blockchain and Bitcoin technology, making it a forward-looking move for governments and financial institutions.

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  • Bitcoin reserve bill introduced in Brazil

    Bitcoin reserve bill introduced in Brazil

    • Bitcoin adoption could get another boost from Brazil.
    • This is after a Brazilian Congressman introduced a bill proposing adoption of BTC as national reserve asset.
    • US lawmakers are also pushing for a Bitcoin strategic reserve.

    A Congressman in Brazil has introduced a Bitcoin reserve bill, adding the country to a growing list of nations looking to tap into the flagship cryptocurrency as a treasury reserve asset.

    On Nov. 25, Brazilian Congressman Eros Biondini introduced a new proposal aimed at the creation of a Bitcoin (BTC) reserve in Brazil.

    The proposal, titled ‘Bitcoin Sovereign Strategic Reserve (RESBit)’, outlines the benefits of adopting BTC as a national Treasury reserve asset. Diversification of the country’s assets and reduction of economic risk are part of the strategic plan. The bill also looks at the opportunity this would offer in terms of putting Brazil at the forefront of technological and financial innovation and development globally.

    According to Biondini, RESBit will be critical to bolstering Brazil’s economic sovereignty if approved.

    In this case, Biondini proposes a gradual addition of BTC to the strategic reserve coffers. The bill targets having Bitcoin form 5% of the country’s national reserves. The acquisition and management of this project will be under the Central Bank of Brazil, with purchased BTC stored in cold wallets.

    During his campaign, US president-elect Donald Trump vowed to support a strategic Bitcoin reserve for the country. Since his election to office, and ahead of his inauguration in January, a lot has happened with regard to a US national bitcoin reserve. US senator Cynthia Lummis has spearheaded these efforts, with multiple industry players backing it.

    This comes as other countries, including Argentina, Morocco, and Romania add to the overall bullishness around BTC adoption across the globe.

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  • Mark Cuban: Inflationary Pressure Could See Bitcoin Become Global Reserve

    Mark Cuban: Inflationary Pressure Could See Bitcoin Become Global Reserve

    A photo image of mark cuban
    • Inflationary pressure and geopolitical uncertainty could see Bitcoin become a global reserve currency, states Cuban
    • The billionaire believes Trump’s lower tax rates and tariffs could push up Bitcoin’s price
    • Elon Musk plans to commit $45m a month to back Trump’s presidential run

    US billionaire Mark Cuban believes that through a combination of inflationary pressure and geopolitical uncertainty, Bitcoin could become a global reserve currency.

    Taking to X, the billionaire indicated that Silicon Valley’s support for former President Donald Trump was a “bitcoin play” to boost its price. Cuban, who has backed Joe Biden for re-election, stated that lower tax rates and tariffs under Trump could push up Bitcoin’s price.

    “Combine that with global uncertainty as to the geopolitical role of the USA, and the impact on the US dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration,” Cuban wrote.

    He added that this will make it easier to “operate a crypto business because of the inevitable, and required, changes at the” US Securities and Exchange Commission (SEC).

    How High?

    Questioning how high Bitcoin can go, Cuban didn’t give a figure, but wrote “way higher than you think,” adding that this is due to its global status, its 21 million Bitcoin limit, and the fact that the currency has unlimited fractionalisation.

    In Cuban’s view, Bitcoin could become a safe haven as countries turn to it as they seek to protect their savings if geopolitical uncertainty continues and the dollar declines as a reserve currency.

    While he only indicated that this was a possibility and isn’t saying it will happen, he added that it’s already happened in countries facing hyperinflation.

    Following Trump’s injury during an assassination attempt at a campaign rally in Pennsylvania, Musk officially endorsed the former GOP President by saying he plans to commit $45m a month to a new super political action committee backing Trump’s presidential run.

    In March, billionaire Elon Musk indicated he wasn’t voting for the Democratic Party in November. The tech mogul who owns Tesla and SpaceX, in addition to X, wrote “I voted 100% Dem until a few years ago. Now, I think we need a red wave or America is toast.”

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