Crypto Daily – President-elect Donald Trump has said he will sign an executive order to create a reserve on his first day in office. This has left many wondering how it could impact crypto’s current four-year boom-bust cycle and lead to a crypto supercycle.
Earlier this year, Wyoming Senator Cynthia Lummis introduced the Bitcoin Reserve Act. Texas and Pennsylvania have also introduced proposals to establish a state Bitcoin reserve.
Can A Bitcoin Reserve Impact Current Cycles?
Besides the US, several countries like Russia, Germany, and Thailand are contemplating similar proposals. If governments attempt to create a stockpile of Bitcoin (BTC), could it impact crypto prices and the four-year boom-bust cycle attributed to Bitcoin’s halving event? Some analysts like Iliya Kalchev believe the Bitcoin Reserve Act could be a landmark moment for Bitcoin and signal its recognition as a legitimate financial instrument. Bitcoin has already garnered significant attention…
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