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Mar 04 2025
8President Donald Trump has taken a bold step in shaping U.S. crypto policy by directing his crypto working group to establish a Crypto Strategic Reserve. This reserve includes major digital assets like Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), marking a historic shift in federal-level crypto integration.
Following the announcement, Bitcoin surged to nearly $95,000 before stabilizing at $93,000. The ripple effect extended to Cardano (ADA), which spiked 40%, and XRP, which saw a 16% gain, indicating strong bullish sentiment across the crypto market.
Bitcoin’s Path to $500,000
Geoff Kendrick, head of forex and digital assets research at Standard Chartered, emphasized the significance of Trump’s crypto initiative. He noted that incorporating Bitcoin into government-backed reserves could fundamentally reshape investment strategies and elevate BTC’s role as a global financial hedge.
Kendrick projected Bitcoin could hit $500,000 by 2028, driven by:
- Increased institutional adoption as governments and major financial players integrate BTC.
- Hedging against economic uncertainty, positioning Bitcoin as a safe-haven asset akin to gold.
- Greater investor accessibility, accelerating demand across traditional and digital markets.
White House Crypto Summit: What’s Next?
With the White House Crypto Summit on the horizon, expectations for new regulatory frameworks and policy shifts are soaring. Kendrick suggested that Trump’s move could inspire state-level Bitcoin reserves, potentially mirroring federal holdings with an estimated 200,000 BTC.
This strategic shift underscores a growing government-backed support framework for crypto, reinforcing market stability, investor confidence, and long-term growth prospects.
As institutional and governmental involvement deepens, the stage is set for Bitcoin and other major cryptocurrencies to play a more prominent role in global financial systems—potentially making the $500,000 BTC price target a reality sooner than expected.
