The recent creation of the US Strategic Bitcoin Reserve has attracted analysts' attention despite ongoing economic instability.
New Economic Challenges
According to analysts at K33 Research, the proposal to establish a US Bitcoin reserve remains a significant development despite potential economic downturns. Recently, many observers have perceived President Donald Trump's latest executive orders as overshadowed by economic uncertainty.
Crypto Market: Current Performances
K33 Head of Research Vetle Lunde and Senior Analyst David Zimmerman noted the ETH/BTC ratio has reached its lowest point since December 2020, highlighting Ethereum's relative underperformance. Nevertheless, Bitcoin has gained 13% since the presidential election, attributed to Trump's support of cryptocurrencies.
Bitcoin's Future: Analysts’ Forecasts
Trump's executive order signed on March 6 officially established the US Strategic Bitcoin Reserve, which will consist of approximately 103,500 BTC at its official launch. Analysts believe this could set a precedent for other countries and signal the beginning of a new era for Bitcoin. They view the current market environment as extremely favorable for long-term Bitcoin accumulation despite short-term uncertainties.
Thus, the creation of the strategic reserve demonstrates the seriousness of the US intentions towards cryptocurrencies and opens a new direction in the global economy. Analysts foresee positive prospects for Bitcoin despite temporary challenges.
