US Bitcoin reserve has pundits in tailspin as Trump inauguration looms
Bitcoin enthusiasts anticipate a price increase following Donald Trump's inauguration, driven by his pro-crypto stance and the proposed BITCOIN Act of 2024. This act mandates the US Treasury to purchase 1 million BTC over five years. Supporters argue a Bitcoin reserve could stabilize the economy and counteract debt, while critics warn it may lead to hyperinflation and destabilize the dollar. Independent presidential candidate Maya Parbhoe advocates for adopting Bitcoin to combat corruption and fiscal irresponsibility in Suriname, drawing parallels to El Salvador's Bitcoin standard. Experts express concerns about the feasibility of a Bitcoin reserve for the US, citing potential risks to financial stability. The BITCOIN Act, introduced in July 2024, awaits Senate action, with predictions of a lengthy approval process. Speculation exists that Trump may issue an executive order to expedite Bitcoin purchases post-inauguration.
