Prediction markets report increasing odds of a national Bitcoin reserve being established in the US by President-elect Donald Trump.
Rising Probabilities
Odds on platforms like Kalshi and Polymarket indicate a substantial rise in probabilities of Trump establishing a US Bitcoin reserve. Kalshi places the odds at 70%, while Polymarket estimates them at 42%, both seeing a 20% increase since early January.
Trump's Promises
During the 2024 Bitcoin conference, Trump pledged to create a strategic national Bitcoin reserve. Additionally, US Senator Cynthia Lummis proposed a bill requiring the Treasury to purchase 1 million BTC over five years.
Impact on Cryptocurrencies
Establishing a Bitcoin reserve could accelerate Bitcoin adoption in the US, being a more significant move than the 2024 ETF launches, according to CoinShares researchers.
The increased focus on Bitcoin and cryptocurrencies raises expectations for significant market changes and potential new legislation in the future.
