The cryptocurrency community is awash with speculation following comments from leading figures in the industry as the Bitcoin Conference, scheduled for July 23, approaches. Rumors that former President Donald Trump may declare Bitcoin (BTC) as a “strategic reserve” for the USA are keeping the agenda busy.
The founder of the cryptocurrency fund, Charles Edwards, expressed his views on the potential impact of such an announcement. “There is a small chance that Bitcoin will experience a once-in-a-lifetime reprice starting next week,” Edwards said. He acknowledged that while the likelihood is relatively low for now, the potential impact of an official Bitcoin reserve asset announcement would be unprecedented. “Small probability * large impact means Bitcoin is ridiculously undervalued,” he added.
Trader Andrew Kang also weighed in on speculation and emphasized the importance of rumors. “BTC is currently said to be promoted as a national asset held in the form of treasury reserves, serving as a platform for many politicians,” Kang said. He emphasized that whether the initial attempt is successful or not, discussing Bitcoin as a national reserve asset introduces a very distinct asymmetric upside scenario.
Kang detailed the potential consequences, suggesting that if the United States accepts Bitcoin as a reserve asset, other countries could follow suit. He also mentioned rumors that a major Asian conglomerate is stepping in to play roles similar to those of Coinbase and MicroStrategy. Kang concluded his words as follows: “These upward developments were faster than expected, but I am not complaining, this month will be great.”
*This is not investment advice.