Polymarket: Trump announcing a strategic Bitcoin reserve unlikely

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As a seasoned crypto investor with a keen interest in political developments that could impact the digital currency market, I have been closely monitoring the buzz surrounding former President Trump’s potential announcement of a U.S. Bitcoin strategic reserve at the Bitcoin 2024 conference. The possibility of such an announcement had initially garnered significant attention and excitement, with many bettors placing their wagers on Polymarket based on credible sources suggesting Trump’s intentions.

As an analyst, I’ve observed that bettors on Polymarket express a lack of conviction regarding Trump’s potential announcement of a U.S. Bitcoin strategic reserve.

As Bitcoin 2024 kicks off this week, there’s great anticipation for any remarks Former President Donald Trump may make regarding Bitcoin (BTC) and the cryptocurrency sector as a whole.

As a researcher examining current events, I’ve noticed an intriguing development in the political betting market, Polymarket. There’s growing buzz about the possibility of Donald Trump announcing plans to establish a U.S. Bitcoin strategic reserve during an upcoming conference. Betting odds reflect this speculation, with some investors placing their wagers on this potential outcome.

As a crypto investor, I’ve made a bold prediction: if Donald Trump announces the establishment of a U.S. strategic reserve of Bitcoin by becoming president and making this announcement before July 28, my bet will come to fruition. I’ll be closely monitoring official recordings or transcripts from any relevant speeches at conferences for confirmation.

Should Trump fail to propose a backup plan during the conference, the wager may not yield favorable results. The probability of Trump unveiling a contingency plan prior to July 28 stands at approximately 22%.

As a crypto investor looking back, I recall that when the bet was initiated, there was a strong conviction among bettors that the probability of Trump making the announced gesture stood at approximately 76%.

Trump creating a Bitcoin strategic reserve

Last week, there were rumors spreading on social media that Trump could declare Bitcoin as a strategic reserve asset for the US during his upcoming speech.

The idea that former President Donald Trump might be involved in something significant, as suggested by Dennis Porter, one of the Satoshi Act’s co-founders, ignited a flurry of discussions over the weekend. However, following Biden’s announcement that he would no longer run for U.S. presidency, this speculation has somewhat subsided.

Should the U.S. decide to hold Bitcoin as part of its national reserves, it would become the world’s largest hoarder of this digital currency. In doing so, it could also advocate for the mining of the remaining Bitcoin supply within the country, aligning with Trump’s past viewpoint.

The U.S. Treasury could consider adding a substantial amount of Bitcoin to its reserves, mirroring its current practice with gold and other currencies.

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2024-07-22 19:46