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FameEX Morning Crypto News Recap | December 18, 2024
2024-12-18 18:33:20
Trump Proposes Using $200 Billion U.S. Treasury Forex Fund to Build Bitcoin Reserves
US President-elect Trump intends to establish a Strategic Bitcoin Reserve (SBR) through the Treasury’s Exchange Stabilization Fund (ESF), projected to surpass $200 billion by October 2024. This move seeks to secure the U.S.'s leadership in global Bitcoin reserves, utilizing funds typically reserved for financial crises.
U.S. Bitcoin Policy Institute Drafts Executive Order to Recognize Bitcoin as a Strategic Reserve Asset
A public document shows that the U.S. Bitcoin Policy Institute has drafted an executive order to designate Bitcoin as a strategic reserve asset, effective once Trump signs it on his first day in office.
Bitcoin Pulls Back After Breaking Historical High, Whale Holdings May Provide Support
On December 17, Bitcoin briefly hit a record high before dropping more than $2,000, returning near its opening price. According to Whalemap data, whale holdings of over 150,000 BTC at $98,133 could act as support during the market pullback.
Over 20% of Total Bitcoin Supply Controlled by Bitcoin ETFs, Miners, and Enterprises
On December 17, Trader T shared on social media that Bitcoin ETFs, miners, and enterprises collectively control more than 20% of the total Bitcoin supply.
U.S. Bitcoin ETFs Now Hold More Assets Than Gold ETFs
K33 research director Vetle Lunde reported that Bitcoin ETFs in the U.S. have surpassed gold ETFs in managed assets, reaching $129.3 billion compared to gold's $128.9 billion, marking a significant shift despite gold's 20-year first-mover advantage.
European Parliament Calls for Bitcoin Strategic Reserve and Rejects Digital Euro
On December 17, Bitcoin Magazine reported that European Parliament members support establishing a Bitcoin strategic reserve and are against the introduction of a digital euro.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
