Matrixport Investment Research: The new SEC chairman and the US strategic reserve may push BTC above $100,000

An estimated 617 million people are currently using cryptocurrencies worldwide (about 7.51% of the total population). If this number reaches 8%, it could mark a turning point for BTC towards mainstream adoption – whether through stablecoins, decentralized finance, new financial services, or even simple speculation. With only 8% penetration in a few key regions, the awareness and usage base reflected in this number will form a network effect, stimulating more institutional and public interest.

Historically, the 8% adoption threshold marks the transition from early adopters to early majority — a critical stage that will see cryptocurrency 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 that the U.S. government include BTC as a strategic asset in the national financial reserves. He highlighted plans to increase U.S. energy production to support BTC mining, positioning the U.S. as a global leader in the field. Trump promised to form an advisory committee supporting cryptocurrencies to create transparent regulations and expressed his intention to replace SEC Chairman Gary Gensler to ease regulatory barriers in the industry.

Strategic BTC Reserve Detailed Explanation

On July 31, 2024, Wyoming Senator Cynthia Loomis introduced the Bitcoin Act of 2024, which aims to position BTC as a strategic financial asset in the United States to enhance economic resilience and increase transparency. The bill proposes to establish a strategic BTC reserve and implement a BTC purchase plan to support the above goals.

The Strategic BTC Reserve will create a decentralized and secure network for storing government-owned BTC within the United States. The reserve will be protected by strong security measures and will retain any assets from BTC forks or airdrops and cannot be sold within five years. The goal of the BTC purchase plan is for the U.S. government to purchase up to 1 million BTC within five years, with an annual purchase target of 200,000 BTC.

BTC could hit $100,000 amid crypto-friendly president’s regulatory environment

With Trump’s election and the wave of support for cryptocurrencies in the U.S. Congress, legislation that is favorable to the industry may be pushed forward. Breaking the 8% adoption threshold could be a key milestone for BTC’s global acceptance. Given Trump’s pro-crypto stance and his circle of crypto advocates, he may move forward with fulfilling his campaign promises. In this supportive regulatory environment, it seems feasible for BTC to reach $100,000 in the coming months, setting the stage for a strong outlook for the BTC industry in 2025.

Some of the above views come from Matrix on Target. Contact us to obtain the full report of Matrix on Target.

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Digital asset trading can be extremely risky and unstable. 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.

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