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Bitcoin Forecast: US Reserve Potential and Price Surge to $1 Million

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by Giorgi Kostiuk

a year ago

Leading experts are discussing the possibility of a US Bitcoin reserve impacting its price.

Jeff Park's Forecast

Jeff Park, head of alpha strategies at Bitwise Invest, suggested that the price of Bitcoin could reach $1 million if the US creates a Bitcoin reserve. He believes that the only way to reach such a level is with the reserve, but he only sees a 10% chance of this happening next year.

That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens.Jeff Park

Senator Lummis' Initiative

Earlier this year, Senator Cynthia Lummis introduced a draft bill requiring the U.S. Treasury to acquire 1 billion Bitcoins over five years. This idea has garnered significant attention, with various pundits debating its viability.

Skepticism and Alternative Predictions

While the idea of a US Bitcoin reserve is being discussed internationally, there are skeptics. The Japanese government has expressed doubts about investing some of its currency reserves in Bitcoin. Galaxy CEO Mike Novogratz is also skeptical, but believes that if the US takes such steps, the price of Bitcoin could rise to $500,000. Fundstrat's Tom Lee predicts Bitcoin could reach $250,000 with a reserve.

Discussions around a US Bitcoin reserve continue. Despite skepticism, the potential impact on Bitcoin's price draws interest from investors and analysts.

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