Matrixport Research: The new SEC Chairman and the U.S. Strategic Reserve may drive BTC to break $100,000
With the conclusion of the U.S. presidential election, breaking the 8% barrier may pave the way for the large-scale application of BTC.Currently, it is estimated that 617 million people worldwide are using cryptocurrencies (approximately 7.51% of the total population). If this number reaches 8%, it could signify a turning point for BTC towards mainstream adoption—whether through stablecoins, decentralized finance, new financial services, or even the simplest forms of speculation. Achieving an 8% adoption rate in some key regions would create a network effect reflected in the awareness and usage base, stimulating more institutional and public interest.
Historically, an 8% adoption threshold marks the transition from early adopters to early majority—this is a critical stage where cryptocurrencies are expected to be widely accepted by 2025.
Trump BTC Conference Speech Review
Trump delivered a keynote speech at the 2024 BTC conference in Nashville, advocating for the U.S. government to incorporate BTC as a strategic asset in the national financial reserves. He emphasized plans to increase U.S. energy production to support BTC mining, positioning the U.S. as a global leader in this field. Trump pledged to establish a consulting committee to support cryptocurrencies, aiming to create transparent regulations, and expressed intentions to replace SEC Chairman Gary Gensler to alleviate regulatory burdens on the industry.
Strategic BTC Reserve Details
On July 31, 2024, Wyoming Senator Cynthia Lummis introduced the "2024 Bitcoin Bill," aimed at positioning BTC as a strategic financial asset for the U.S. to enhance economic resilience and improve transparency. The bill proposes to establish a strategic BTC reserve and implement a BTC purchasing program to support these goals.
The strategic BTC reserve will create a decentralized and secure network for storing government-owned BTC within the U.S. This reserve will employ robust security measures and retain any assets from BTC forks or airdrops, which cannot be sold for five years. The BTC purchasing program aims for the U.S. government to acquire up to 1 million BTC over five years, with an annual purchase target of 200,000 BTC.
BTC Expected to Reach $100,000 in a Crypto-Friendly Presidential Regulatory Environment
With Trump's election and the U.S. Congress igniting a wave of support for cryptocurrencies, favorable legislation for the industry may be propelled. Breaking the 8% adoption threshold could be a key milestone for BTC's global acceptance. Given Trump's supportive stance on cryptocurrencies and his circle of crypto advocates, he may push to fulfill promises made during his campaign. In this supportive regulatory environment, reaching $100,000 for BTC in the coming months seems feasible, laying the groundwork for a strong outlook for the BTC industry in 2025.
The above opinions are sourced from Matrix on Target. Contact us for the complete report on Matrix on Target.
Disclaimer: The market carries risks, and investment should be approached with caution. This article does not constitute investment advice. Trading in digital assets may involve significant risks and volatility. Investment decisions should be made after careful consideration of personal circumstances and consultation with financial professionals. Matrixport is not responsible for any investment decisions made based on the information provided herein.
