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US Strategic Bitcoin Reserve in Focus
Wednesday’s brief pullback was followed by a rebound, with BTC gaining support from progress toward a national US Strategic Bitcoin Reserve (SBR). In late 2024, Senator Cynthia Lummis introduced the Bitcoin Act, proposing the US government acquire one million BTC over five years, with a mandatory holding period of 20 years. A US SBR would tilt the supply-demand balance firmly in BTC’s favor.
While Senator Lummis pushes for Congress to support the bill, state-level momentum is rising.
- The House for the US State of Utah recently passed legislation for an SBR.
- New Hampshire lawmakers introduced HB92, proposing that 10% of state funds be allocated to BTC ETFs.
The number of states eying an SBR is growing beyond Trump’s footprint. Massachusetts and New Hampshire, traditionally blue states, are also advancing BTC-related legislation.
If Congress passes the Bitcoin Act, it could fuel global FOMO, similar to past trends in gold accumulation.
Amicus Curiae attorney John E Deaton recently stated:
“If the US Government (USG) passes Senator Lummis’ Bill and begins buying BTC, it will no doubt cause other nations to follow suit, just like with gold. It could literally create Nation State FOMO, and if that occurs, $1M per BTC happens a lot faster than people think.”
Bitcoin Price Outlook
On Wednesday, February 12, BTC gained 2.17%, reversing Tuesday’s 1.71% loss, closing at $97,881.
While progress toward a national SBR remains crucial, other key factors to watch include:
- US Tariff policies and trade tensions.
- Upcoming US producer prices and jobless claims data.
- US BTC-Spot ETF Market Flow Trends.
Possible Scenarios:
- Bearish: Rising tariffs, strong US economic data, and a hawkish Fed could push BTC toward $90,000.
- Bullish: Easing US-China tensions, weaker US economic indicators, and increased BTC-spot ETF demand could send BTC toward its all-time high of $109,312.
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