American media predicts $100k Bitcoin by January 2025
Last Updated on 8 November 2024 by CryptoTips.eu
CNBC, the largest American financial television channel, predicted this week that Bitcoin could reach a price of $100,000 if Donald Trump indeed fulfills all crypto promises. The “economy”-crazy Americans have clearly heard that news and are buying Bitcoin ETF stocks in great numbers.
Bros
The Republican presidential candidate understood quite early in his campaign that crypto is very popular among young men in the United States. Even though Trump was previously quite critical of Bitcoin, since the beginning of 2024 he has completely changed his mind.
Donald Trump promised the so-called ‘crypto bros’ (the group of young men who love crypto and are active on social media) to carry out various actions if he were elected. CNBC claims that Bitcoin could reach a price of $100,000 if those promises are also part of his government statement in January 2025.
Gensler
First, Trump promised to fire Gary Gensler. Gensler heads the American stock exchange watchdog SEC and has initiated lawsuits against crypto companies such as Coinbase, Kraken and Binance in recent years.
Journalists claim that Trump cannot fire Gensler at all and that he would remain as commissioner of the SEC even if he is no longer chairman.
🇺🇸 TRUMP: "I will fire Gary Gensler and appoint a new SEC chairman ... who believes America should build the future, not block the future." pic.twitter.com/5KHrdgHe2Q
— Cointelegraph (@Cointelegraph) November 5, 2024
Bitcoin reserve
Second, Donald Trump promised to create a strategic Bitcoin reserve. In that case, the United States would stop selling the Bitcoin (they are the largest Bitcoin holders in the country ranking) that it has seized and start buying Bitcoins instead. Both actions would positively influence the price.
Ross Ulbricht
Third, Trump promised to release Ross Ulbricht. He is serving a life sentence for setting up Silk Road, a website that was considered the first real use case for Bitcoin where you could buy drugs and other illegal material via the dark web.
Dear @realDonaldTrump - please remember this promise you made. Inauguration of your 2nd term is 75 days away. You must prove to the world you can keep your word. #pardonross #freeross pic.twitter.com/HYm4ogo3iq
— Pardon Ross Ulbricht Fan Account (@pardon_ross) November 6, 2024
Ulbricht’s prison sentence (life imprisonment) is seen as a warning to anyone who sets up an illegal trading platform where you can pay in crypto.