Speculation about U.S. president building strategic Bitcoin reserve drives price up

From Investing.com

January 18, 2025 10:30 AM:

Renowned venture capitalist Anthony Pompliano shares data showing a 70% probability of the new U.S. president building a strategic Bitcoin reserve by 2025. Bitcoin briefly hits $106,000 before pulling back to $103,120, a 2.71% decline. Price surge linked to speculation about new administration and potential creation of BTC reserve.

Bitcoin price surges by 4% in past 24 hours, nearing $106,000 and marking a 16.90% increase over the week. Speculation about U.S. administration’s plans for a strategic Bitcoin reserve drives price up. Probability of reserve creation reaches 70%, highest on record. Donald Trump’s inauguration on Jan. 20 adds to price increase.

U.S. Department of Justice granted permission to sell 69,370 BTC confiscated from Silk Road hacker in 2020. Potential sale could generate $7,152,699,078 for U.S. government. Many hope newly elected president will prevent sale and use Bitcoin for strategic reserve. Speculation and anticipation drive Bitcoin price up.

Read more at Investing.com: US Strategic Bitcoin Reserve Odds Soar to 70% ATH as BTC Nears $106,000 By U.Today