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Click here to find out why analysts believe XRP could skyrocket—or crash—based on the SEC’s decision.
BTC Advances as Strategic Bitcoin Reserve Progress Gains Traction
Beyond the Ripple case, developments related to the Strategic Bitcoin Reserve (SBR) have drawn interest. On February 10, House Speaker Dustin Hall introduced HB 92, a bill proposing North Carolina adopt BTC as a strategic reserve asset. If passed, North Carolina could allocate 10% of State funds into BTC ETFs.
The bill follows the House for Utah’s recent passing of an SBR bill. Other US states exploring SBR legislation include Alabama, Arizona, Florida, Kentucky, Massachusetts, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, and Wyoming.
A broader push for SBR legislation in Republican Party-led states could pressure the US administration to accelerate progress toward a US SBR. In late 2024, Senator Cynthia Lummis introduced the Bitcoin Act. The bill proposes that the US government acquire one million BTC over five years, with a mandatory holding period of 20 years.
A US SBR would materially tilt the supply-demand balance in BTC’s favor, driving BTC to unprecedented levels.
In January, Bitwise Chief Investment Officer Matt Hougan projected BTC could surpass $200k by December 2025, citing ETFs, public companies, and government demand outstripping supply.
Bitcoin Price Outlook
On Monday, February 10, BTC gained 0.97%, reversing Sunday’s 0.13% loss, closing at $97,469. Despite progress toward a US SBR, BTC saw modest gains amid escalating US-China trade tensions and shifting sentiment toward the Fed rate path.
Key Factors to Watch
- US Tariff Developments
- SBR Legislative Updates
- US CPI Report and Fed Chair Powell Testimony
- US BTC-Spot ETF Market Flow Trends.
Possible Scenarios:
- Bearish Scenario: Wider US tariffs, higher US inflation, a hawkish Fed Chair, and stalled US SBR discussions could pull BTC toward $90,000.
- Bullish Scenario: Easing US-China trade tensions, softer inflation, a dovish Fed, and progress on a US SBR may drive BTC toward its all-time high of $109,312.
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