Recently, the Bitcoin market reached a milestone of $100,000. The achievement has reignited discussions related to Bitcoin’s future potential. As the cryptocurrency world awaits the launch of a Bitcoin Reserve in the United States under Donald Trump, who will be sworn in as president on January 25, 2025, one cryptocurrency enthusiast, identified as Atlas on could push the price of Bitcoin up to $1 million. Yeah! You heard it right. One million for Bitcoin! Is it possible? Let’s hear what Atlas has to say. Ready?
Trump’s Bitcoin Reserve Plan
Cryptocurrencies emerged as a key issue during the US political campaign. Both Donald Trump and Kamala Harris presented many revolutionary proposals for the industry. Trump’s proposal for a US Bitcoin reserve gained immense popularity as it was primarily presented as a strategy to protect the US economy from the threat of inflation.
Atlas claims that the Tump-led US government would purchase at least 20% of the total Bitcoin supply.
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◈ Trump’s election campaign popularized the notion of a $BTC reserve, presenting it as a future-focused economic solution.
◈ Critics were quick to condemn the plan, citing Bitcoin’s volatility as a major problem.
◈ Many argued that it would create more problems than benefits for…
– Atlas (@crptAtlas) December 17, 2024
Bitcoin Reserve: Benefits and Reviews
Since its initial presentation, the BTC reserve plan generated harsh criticism. Almost all the arguments against the proposal are based on the fact that Bitcoin is very volatile in nature. Most critics believe that it is unwise to use a highly volatile asset as a reserve, as it would lead the US economy to disaster.
Supporters see long-term benefits
Those who defend the proposal highlight the fact that Bitcoin has the ability to act as a hedge against economic risks. In the last year, Bitcoin has experienced a growth of 152.7%, reinforcing its value as a strategic asset for financial stability.
Global context: why Bitcoin is crucial
Without a doubt, Russia sees the adoption of Bitcoin as a strategy to overcome the sanctions imposed against the country by the Western power in response to its aggressive military action against Ukraine. Atlas notes that at least $300 billion in Russian assets were frozen by the Western power using economic sanctions.
Bitcoin as a strategic asset
Definitely, countries, unhappy with the way the United States dominates the global economy using the US dollar, such as China, will accept any sensible strategy that can help them reduce their dependence on the US dollar.
Atlas believes that nations such as Russia and China are eager to adopt strategies that will help them rescue their dependence on the US dollar.
Bitcoin price and adoption potential
At this point, the United States has no choice but to adopt Bitcoin. It is important to leverage the first-mover advantage to establish the country’s dominance in the Bitcoin market. This indicates that the United States is very likely to acquire 20% of the BTC supply.
Atlas predicts that if the United States adopts Bitcoin, it could push the price up to $1,000,000.
It’s pure economics. Reducing supply and increasing demand are ideal conditions for price growth.
In conclusion, the US Bitcoin Reserve could revolutionize the global financial system. With increasing demand, reduced supply, and global competition, the future of BTC looks bright. Yes, the ‘$1 million per BTC’ target seems sensible!
