Bitcoin Reserve: US President Trump Provides Further Details – Betting Market Skeptical
After presumable sales of Bitcoin by the SEC, the question arises how things are with the nearly 1 million BTC that the US federal government still holds. Concerning the future of this reserve, there are now different statements by US President Donald Trump – but the betting market remains skeptical.
It’s no secret that the US federal government possesses a remarkable Bitcoin reserve. These BTC originate primarily from confiscated criminal activities. For a long time, the US has kept quiet about what they plan to do with this digital gold. But now statements by US President Trump are causing stir. These suggest that further Bitcoin sales are concretely planned.
However, the betting market doubts the official announcements. Currently, the odds are 3 to 2 that the US will continue to hoard the Bitcoin. This indicates that most are betting on the continuation of the status quo.
Meanwhile, the Bitcoin price remains unfazed for the time being. Although it is understandable that a sudden flood of almost 1 million BTC into the market would have significant impacts on the price, Trump’s announcements have yet to lead to critical changes in the BTC chart. Instead, Bitcoin continues to move within the familiar range.
So it remains exciting to see when and how the US federal government will actually complete further Bitcoin sales. And whether this will then have the power to drive the cryptocurrency market in a certain direction.
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