It is currently estimated that 617 million people globally are using cryptocurrencies (approximately 7.51% of the total population). If this figure reaches 8%, it may mark a turning point towards mainstream adoption of BTC - whether through stablecoins, decentralized finance, new financial services, or even simple speculation. Reaching an 8% adoption rate in some key regions would create a network effect reflecting the underlying awareness and usage, sparking greater institutional and public interest.
Based on historical experience, an 8% adoption threshold marks the transition from early adopters to the early majority - a critical stage where cryptocurrencies are expected to gain widespread acceptance by 2025.
Review of Trump's BTC Conference Speech
Trump delivered a keynote speech at the 2024 BTC Conference in Nashville, advocating for the US government to incorporate BTC as a strategic asset in the national financial reserves. He emphasized plans to increase US energy production to support BTC mining, positioning the US as a global leader in this field. Trump promised to establish a cryptocurrency advisory council to create transparent regulations, and expressed an interest in replacing SEC Chairman Gary Gensler to reduce regulatory barriers for the industry.
Detailed Strategic BTC Reserves
On July 31, 2024, Wyoming Senator Cynthia Lummis introduced the 'Bitcoin Act of 2024', aiming to position BTC as a strategic financial asset for the US to enhance economic resilience and increase transparency. The bill proposes to establish strategic BTC reserves and implement a BTC acquisition program to support these objectives.
The strategic BTC reserves will create a decentralized and secure network to store the government's BTC holdings within the US. The reserves will employ robust security measures and retain any assets from BTC forks or airdrops, with a five-year hold period. The BTC acquisition program aims for the US government to purchase up to 1 million BTC over five years, with an annual target of 200,000 BTC.
Under a Crypto-Friendly President, BTC is Expected to Reach $100,000
With the election of Trump and a pro-cryptocurrency wave in the US Congress, favorable legislation for the industry may be driven. Crossing the 8% adoption threshold could be a critical milestone towards global acceptance of BTC. Given Trump's support for cryptocurrencies and his circle of cryptocurrency advocates, he is likely to follow through on his campaign promises. In this supportive regulatory environment, BTC reaching $100,000 in the coming months appears feasible, laying the foundation for the strong prospects of the BTC industry in 2025.
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Disclaimer: The market has risks, and investments require caution. This article does not constitute investment advice. Digital asset trading may have great risks and instability. Investment decisions should be made after carefully considering personal circumstances and consulting financial professionals. Matrixport is not responsible for any investment decisions based on the information provided in this content.
