Reserve

bullish

America

Bitcoin

Institutional developments and remarks from Nashville suggest a more bullish outlook for Bitcoin and BTC mining, according to H.C. Wainwright &amp; Co analysts. HWC analyst Mike Colonnesse noted that the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/">U.S.</a> might adopt Bitcoin nationally, aligning with Donald Trump's crypto approach outlined at the Bitcoin 2024 conference. Trump proposed creating a government reserve with around $12 billion in BTC and positioning America as the world's leading Bitcoin mining nation, according to <a href="https://crypto.news/bitcoin-and-btc-mining-pose-promising-future-analyst/">Crypto</a>. 
A Bernstein report highlighted a $20 billion opportunity in the BTC <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a>, reinforcing the arguments for mass adoption and global acceptance of Bitcoin. Alongside Trump, Senator Lummis and independent candidate Robert F. Kennedy also proposed strategic BTC reserve plans, with Polymarket data showing Trump as the frontrunner for the November election. 
Trump’s 60% chance of becoming America’s 47th president promises to propel Bitcoin as an asset class and the broader cryptocurrency industry. If elected, <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">SEC</a> chair Gary Gensler might be replaced, potentially halting the SEC’s crackdown on blockchain finance and digital assets. This change could benefit the digital asset ecosystem, offering regulatory clarity and fostering market growth. 
Colonnesse predicted that Trump’s victory, increased institutional buying via spot exchange-traded funds, and new SEC leadership could skyrocket the BTC sector in the next 12 months. He added that national adoption, coupled with the <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a> reducing mining rewards, could drive Bitcoin prices to new heights. Michael Saylor, MicroStrategy founder, forecasted BTC reaching $49 million per coin by 2045 in a best-case scenario, or at least $3 million if markets grow steadily. 
The HWC analyst also mentioned that a favorable macroeconomic environment and reduced geopolitical unrest could benefit BTC and mining operations. The Federal Reserve is expected to cut rates towards the end of Q3 2024, improving market sentiment and demand for Bitcoin and other risk assets.

U.S. Bitcoin Mining Industry Poised for Growth Under Trump’s Plan

Ultramining_Eng

دیگر آرٹیکلز 31 جولائی، 2024 پر پبلش کیے گئے ہیں

Marscoin adopts ASERT difficulty adjustment algorithm in Latest Updates

XRP Price Skyrockets: Is a $1 Target Within Reach by Year-End?

Investors Run to RCO Finance (RCOF) as Kaspa (KAS) and Dogecoin (DOGE) Complete Bearish Pattern

L3 KuCoin Listing: 166,000 Token Giveaway

Mt. Gox Makes Gargantuan Bitcoin Transfer as BTC Price Languishes

Crypto Entrepreneur Reveals Bitcoin Donation To Donald Trump

Join our free newsletter for daily crypto updates!