BREAKING: Donald Trump announces that he will create a US government Bitcoin strategic reserve if elected president.
This would be a stockpile of Bitcoin similar to the Strategic Petroleum Reserve. Former U.S. President Donald Trump promised to build a “strategic Bitcoin stockpile” for the United States at the Bitcoin 2024 conference in Nashville on Saturday. The Republican presidential candidate's keynote address followed a week of growing rumors and reports on the matter with a relatively vague announcement to the packed room of Bitcoiners. "As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future,” Trump said. “I hope you do well.” Source: Decrypt Activate to view larger image,
NEW: Fold becomes the first Bitcoin only financial services company to go public on the NASDAQ 👏
They already have 1,000 BTC on their balance sheet 🚀 Source: Bitcoin magazine
NEW: BlackRock's Bitcoin ETF has had more inflows this year than the Nasdaq-tracking $QQQ ETF.
Source: Bitcoin Archive
U.S. Bitcoin ETFs accumulated almost one million Bitcoin (~911k) in just 6 months
That’s 1/21 of total supply that will ever exist! Source: Carl MENGER on X
ETF YTD net flows ranking... iShares Bitcoin spot ETF $IBIT has passed Invesco Nasdaq 100 $QQQ into YTD net flows.
And could pass Vanguard's Total Stock Market ETF very soon too. Compare the net sizes of these ETF's vs. net inflows. Demand for Bitcoin via ETF has been relentless. Unprecedented really. Source: SpencerHakimian, Bloomberg
Bitcoin $BTC reaction following the news that Biden is leaving the race was heavily scrutinized by market participants for 2 reasons
1/ It is the only risk assets traded 24/7 and thus reacting to news over the week-end; 2/ Bitcoin is now seen as a "pro-Trump" asset (i.e of it goes down that means that markets see a lower chance for Trump to be re-elected). While the initial reaction to the news was BTC going down almost $1,000 in a matter of minutes, BTC bounced back later on to trade at the highest level of the week-end (around $68k). So if Bitcoin is any guide, the Trump election trade does not seem to have been damaged... Source chart: coingecko
There is a website tracking the German Bitcoin losses in real time:
https://lnkd.in/eU_icc8x Source: Carl B Menger on X
Bitcoin has decoupled from its strong correlation with tech overall in the last two weeks...
Source: Bloomberg, zerohedge
