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Bitcoin News: Europe Proposes Strategic BTC Reserve After US Trump’s US Optimism
EU MP has made a case for the bloc to establish a Bitcoin strategic reserve. Countries, including the United States and Japan, are also exploring this move.
Sarah Knafo, a member of the European Parliament, recently submitted a proposal for Europe to create a Bitcoin strategic reserve. This development comes amid optimism surrounding the establishment of a Bitcoin reserve in the US, following President-elect Donald Trump’s campaign promise.
The European MP’s proposal has contributed to the ongoing Bitcoin (BTC) rally, with the price hitting a new all-time high. The price touched $107,780.58 early in the day before stabilizing at the current $106,344 as of this writing.
In the last 24 hours, BTC soared by 2.13%, and it has risen by a staggering 10.3% within the past seven days. The 24-hour trading volume increased by 2.5% to over $77 billion, indicating investors’ renewed confidence. Experts anticipate that the rally will continue in the days ahead.
Notably, veteran trader Peter Brandt predicted that the BTC price is poised to hit $125,000 soon. Meanwhile, the robust inflow into US Spot Bitcoin ETF indicates growing institutional interest in the asset, as reported by CNF.
Bitcoin reserve European Central Bank
Source: www.crypto-news-flash.com
