Bitcoin has soared to a new all-time high of $109,558 during early Asian trading hours, coinciding with President Donald Trump's inauguration day. Market watchers are pointing to the increased possibility that Trump could establish a Strategic Bitcoin Reserve (SBR) through an executive order – one of perhaps 100 he could sign immediately upon taking office profession
Is A Strategic Bitcoin Reserve Coming?
Talk about the US Bitcoin reserve under Trump has circulated for months, but speculation it became more intense when Polymarket, a crypto-based prediction platform, showed a sudden spike in the likelihood of such a reserve forming within Trump's first 100 days. The odds, which hit 59%, came quickly ahead of Bitcoin's pump to its peak.
In the past, Trump campaigned on the possibility moving all that was captured BTC by law enforcement into a government-held reserve. Although there has been no official confirmation, rumors that a formal order could be signed “as early as Foundation Day” caused prices to rise.
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In particular, several influential Bitcoin advocates met with the incoming administration over the past weekend, fueling SBR speculation. Senator John Barrasso wrote via X (formerly Twitter) on Sunday: “Senator Lummis and I had a great time talking to President Donald Trump this morning. Wyoming is ready for Inauguration Day tomorrow!”
Senator Cynthia Lummiswho was known for her pro-Bitcoin stance, reinforced the conversation around a government-led BTC initiative. In a January 17 post on X, she said: “Working hard to get the Strategic Bitcoin Reserve and comprehensive digital asset legislation across the finish line. Thanks for stopping by @jespow, @arjunseti, @DavidLRipley!”
Lummis' own legislative proposal, known as the “Bitcoin Bill,” famously proposes the purchase of 1 million Bitcoins.
MicroStrategy Chairman Michael Saylor also attended meetings with the Trump administration's cabinet. He shared a photo on X of himself with Robert F. Kennedy Jr. and Jared Kushner, with the caption: “The future is right”
Meanwhile, Eric Trump posted a photo with Saylor and “Crypto Czar” David Sacksaying: “To the moon! 🚀🚀 #Bitcoin @WorldLibertyFi @saylor @DavidSacks”
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Further underscoring the White House's exposure to Bitcoin, Fred Thiel, Chairman and CEO of MARA Holdings (NASDAQ:MARA) – one of America's largest Bitcoin mining companies – was reportedly sitting down with the US Secretary of Defense who was coming in at the Vice President's reception on Saturday night.
MacroScope (@MacroScope17), prominent market analyst, was noted on X: “Remember that the reports and pictures we're seeing of Trump and his incoming cabinet talking to BTC advocates (Scott Bessent at the crypto ball etc ) right at the very beginning of what is happening. Expect many headlines to hit in the coming days, weeks and months. A unique situation in the history of financial markets.”
David Bailey, CEO of BTC Inc, who played a prominent role in promoting the pro-Bitcoin platform of then-candidate Trump, commented on Trump's recent effort in a personal setting. memecoin TRUMP like “not my cup of tea,” but pressure thanks for Trump's pro-Bitcoin stance via X today.
“I will continue to do everything I can to support the President and his family in adopting Bitcoin and provide honest advice when asked. America will be a Bitcoin and Crypto Superpower and the winning has only just begun. ” When a user asked Bailey if some key crypto-friendly actions — like freeing Ross Ulbricht, certifying stocks by executive order, and supporting Sen. SBR's bill — would. Lummis – up for TRUMP's memecoin controversy, Bailey replied: “all these things happen and more.”
Charles Edwards, CEO of Capriole Investments, seen that Bitcoin's quick move lower followed by a quick rebound to new highs could indicate additional gains. “Trust the second move,” Edwards said, stressing that “when markets move strongly in one direction, and then reverse it shortly after, the second move is likely to be the real move.” is setting the new trend.”
He said that after a “short, good old-fashioned squeeze,” investors realized the “real confidence” of the rumored developments – from “higher hopes of BSR” to “boarding the MAGA army to crypto.” However, Edwards admitted that “anything can happen” in such a volatile market environment.
At press time, BTC was trading at $108,182.
Featured image from YouTube, chart from TradingView.com
