Crypto Leaders Push Trump for Federal Bitcoin Reserve to Tackle National Debt

Crypto Leaders Urge Trump to Establish Federal Bitcoin Reserve

The Washington Post reports that top cryptocurrency executives and investors are advocating for President-elect Donald Trump to create a national bitcoin reserve. This initiative aims to integrate the volatile crypto market more closely with U.S. financial strategies, despite concerns from economists about potential inflationary effects and risks associated with fluctuating bitcoin prices. Advocates argue this could help reduce national debt by capitalizing on expected future value increases of bitcoin.

Market Analysis: Crypto Prices Experience Significant Corrections

According to CryptoDaily, the cryptocurrency market is undergoing a severe correction phase as major coins like Bitcoin (BTC) drop towards $9,000 amidst rising liquidations totaling $581 million in derivatives positions. Ethereum (ETH), Solana (SOL), Ripple (XRP), and other altcoins have also faced substantial declines due to profit-taking activities following recent highs post-election.

CFTC May Gain Oversight Over Cryptocurrency Markets Under Trump's Administration

The Crypto Basic reveals plans under consideration by President-elect Donald Trump’s administration which would grant regulatory authority over certain cryptocurrencies such as Bitcoin and Ethereum to the Commodity Futures Trading Commission (CFTC). This move seeks to diminish SEC's control over digital assets deemed commodities, potentially fostering growth within the industry through less stringent regulations.

Pantera Capital CEO Predicts Massive Growth Potential for Bitcoin

A report from crypto.news highlights Pantera Capital CEO Dan Morehead's prediction that Bitcoin could reach up to $740,000 per coin within four years if blockchain adoption accelerates across financial sectors. Despite current untapped potential—95% of global wealth has yet engaged with blockchain technology—Morehead remains optimistic about long-term prospects given historical price surges experienced by BTC.

GOAT Token Defies Market Trends Amidst Broader Downturn

An article on CoinGape discusses how Goatseus Maximus token defied broader bearish trends in the crypto market by gaining 15% recently. The surge follows OpenAI securing significant investment funding; however, technical indicators suggest strong selling pressure may affect its continued performance amidst ongoing volatility affecting many tokens globally.

XRP Faces Challenges After Recent Rally Stalls Below Key Support Levels

FXStreet analyzes Ripple's XRP struggles after failing support at $1.40 amid an overall downturn impacting various cryptos including BTC dropping below critical thresholds around the $9k mark while ETH shows signs of optimism nearing resistance levels. Analysts now monitoring developments closely, suggest a possible rally continuation ahead should conditions stabilize favorably.

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Bitcoin Targets New Heights Amid Political Shifts The cryptocurrency market is abuzz with Bitcoin's recent price movements, as reported by CCN.com. After reclaiming the $100,000 mark, Bitcoin (BTC) shows potential for further growth. The anticipation surrounding Donald Trump's inauguration and his...

Article Summary

Cryptocurrency leaders are urging President-elect Trump to establish a federal bitcoin reserve, while the market faces significant corrections and potential regulatory changes under his administration. Despite current downturns, experts predict massive growth for Bitcoin if blockchain adoption increases, with some tokens like GOAT defying trends amidst broader volatility.