Trump Backs Bitcoin, Saylor Predicts Surge to $500,000 with U.S. Strategic Reserve

Michael Saylor, a prominent Bitcoin advocate, has stated that President Donald Trump supports Bitcoin as a store of value, suggesting that the U.S. could become the 'bankers of the world' by embracing the cryptocurrency. This statement was made during an interview on Fox News.

Standard Chartered has predicted that Trump's proposed strategic Bitcoin reserve could drive the price of Bitcoin to $500,000 per BTC. This prediction comes amidst reports that the U.S. strategic Bitcoin reserve could surpass those of China and Russia, potentially attracting tech talent and investment to America.

Saylor also commented that Bitcoin is the only asset endorsed by a U.S. president in the 21st century and described $80,000 as an entry point for investment, claiming that all risk has been stripped away from the asset. He holds nearly 500,000 Bitcoins. Trump's administration has openly stated that the USA will be buying as much Bitcoin as possible.

In addition, Saylor predicted that Bitcoin will surge significantly once risk-on sentiment returns to the market, indicating a bullish outlook on the cryptocurrency's future performance. He noted that Wall Street, the government, and banks all embrace Bitcoin.

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