- White House confirms first US Strategic Bitcoin Reserve Report.
- This report is expected to be released on Wednesday.
- The report has pumped bullish expectations for the crypto market.
The White House just confirmed that the first US Strategic Bitcoin Reserve report will be released on Wednesday. This news has the crypto community eager to hear what progress the US Strategic Crypto Reserve may have experienced since its announcement earlier this year, when Trump signed the formation of the Reserve back in Q1 before the prolonged market correction phase.
White House Confirms First US Strategic Bitcoin Reserve Report
At the start of this year, the current US President, Donald J. Trump made it official, the USA would be forming a Strategic Crypto Reserve. This Strategic Crypto Reserve was confirmed shortly after with all seized Bitcoin being moved to the Reserve. What’s more the Strategic Crypto Reserve was expected to hold other potential and promising altcoin then expected to include Ethereum (ETH), Cardano (ADA), and Ripple’s XRP, to name a few.
Yet, the Strategic Crypto Reserve hasn’t officially announced any accumulation efforts since the formation of the Reserve. However, Trump’s bullish stance on crypto, paired with the Crypto conferences he’s held and attended, and the advice to have the government officially accumulate BTC from reputed financial experts like Michael Saylor, may have finally encouraged them to add crypto to the Reserve since its formation.
Since he took office, Trump has delivered most of his pro-crypto promises starting with firing Gary Gensler and placing a pro-crypto Chairman at the head of the SEC. Since he took office, the crypto market in the USA has been thriving steadily, allowing crypto prices to follow its lead. So far BTC has set newer and higher ATH targets, perhaps this report will act as the trigger for the pioneer crypto asset to hit its next ATH price in the $130,000 price range as expected by many analysts.
Strategic Bitcoin Reserve Report Expected Tomorrow
As we can see from the post above, CNBC just confirmed on live TV that the USA will release a report on the Strategic Bitcoin Reserve tomorrow. In detail, the Trump administration will release its first national crypto stockpile report. This report will detail the structure and contents of the government’s digital assets, including holdings under the Strategic Bitcoin Reserve and the USA Digital Asset Stockpile.
In detail, the report will also list all the crypto assets obtained through legal seizures. The report could also recommend national security and banking access reforms for crypto firms. Thus, the report could reveal how much Bitcoin (BTC) the government currently holds, the numbers unveiled tomorrow could lead to parabolic price changes in the crypto market. Can BTC hit a new ATH soon?
