Bitcoin Reaches New High Of $94,000: Blockstream CEO Anticipates $1 Million Ahead
Bitcoin (BTC) has achieved a historic milestone, reaching $94,000 for the first time, driven by a massive upward trend since November 5, the day President-elect Donald Trump was re-elected. Trump’s pledge to bring regulatory transparency to digital assets sparked a strong rally, with Bitcoin rising 40% in just two weeks.
“Get ready for possible seven-digit Bitcoin prices”
The surge reflects increased buying pressure and is tied to growing inflows into Bitcoin exchange-traded funds (ETFs). However, speculation surrounding a potential U.S. strategic reserve of Bitcoin has further boosted investor confidence.
Blockstream CEO Adam Back, a long-time advocate of Bitcoin, said that if the United States were to build a strategic reserve of Bitcoin, investors should prepare for the possibility that Bitcoin prices could reach seven figures during this market cycle. Back point out:
If the U.S. Strategic Bitcoin Reserve appears, be prepared for 7 figures in Bitcoin. This cycle. The market is currently skeptical of meaningful follow-through, so this one simply isn’t priced in.
Market expert Anthony Pompliano highlighted that discussion around the move is intensifying as pro-cryptocurrency Senator Cynthia Lummis introduces legislation to put the reserve into action, while Trump has previously pledged to use the approximately 200,000 BTC already held by the U.S. government .
Will Bitcoin hit $150,000 in 2025?
Despite these recommendations, Pompliano believes they don’t go far enough. he advocate Taking a more radical approach, it is suggested that the United States print $250 billion on the first day of Trump’s presidency and invest the entire amount in Bitcoin.
Pompliano outlined that the proposed $250 billion investment could purchase nearly 2.8 million Bitcoins at current prices. However, he recognized that U.S. government purchases could impact market prices and therefore estimated that the average purchase price could rise to $150,000 per coin, resulting in the acquisition of approximately 1.6 million Bitcoins.
Combined with the 200,000 Bitcoins already held, this would make the United States the largest Bitcoin holder in the world, with a total of 1.8 million Bitcoins. Pompliano claims that the strategy, while seemingly costly, is a prudent financial move that has the potential to deliver significant long-term benefits.
As of this writing, BTC is trading at $93,770, up 5% on a weekly basis.
Featured images from DALL-E, charts from TradingView.com
