The establishment of a US strategic Bitcoin reserve could propel its price significantly. Former President Donald Trump endorsed this strategy at a Nashville conference, sparking interest among states like Texas and Pennsylvania in launching reserve funds.
Texas is seeking to create a Bitcoin fund utilizing public contributions and existing resources, avoiding taxpayer money. If successful, it could become a pioneering state in holding Bitcoin in treasury, alongside international considerations from countries like Hong Kong and Germany.
Currently, Bitcoin trades around 94,000 USD, having peaked above 108,000 USD recently. The pursuit of strategic reserves and supportive political advocacy may result in substantial future price increases for Bitcoin.