Prepare for Takeoff: Worldwide Bitcoin Contest Kicks Off as Value Anticipates Pivotal Trump Announcement
Bitcoin's price has taken a slight dip in recent weeks, despite Elon Musk's potential Federal Reserve-causing antics and the Tesla billionaire's renowned Bitcoin advocate status. The digital coin is currently hovering at around $100,000 per unit, falling back after nearly touching the $110,000 mark following a shocking Satoshi Nakamoto revelation by a Coinbase executive.
Wall Street behemoth Goldman Sachs has subtly disclosed its venture into Bitcoin, while Abu Dhabi's sovereign wealth fund has announced its own Bitcoin bet. This global adoption 'race' has been triggered by Trump's crypto advisor, David Sacks, hinting at an important announcement.
Abu Dhabi's $1 trillion wealth fund invested about $436 million in BlackRock's spot Bitcoin ETF in the last quarter of 2024. BlackRock, having long advocated for a U.S. spot Bitcoin ETF, introduced a fleet of Bitcoin funds in January 2024, which swiftly became some of the fastest-growing ETFs in existence.
There have been whispers that various countries—backed by their sovereign wealth funds—have secretly been stocking up on Bitcoin. These rumors were fueled by explosive comments from BlackRock's chief executive in January.
David Bailey, the CEO of Bitcoin Magazine publisher Bitcoin Inc, who previously advised the Trump election campaign on Bitcoin strategies and organized Trump's Bitcoin conference appearance, publicly announced on X that Abu Dhabi's investment was far more significant than its official filing suggests. He also hinted at other Gulf Cooperation Council (GCC) members making significant Bitcoin moves.
Senator Cynthia Lummis, a pro-Bitcoin advocate from Wyoming, leapt into action, echoing Bailey's sentiments and pushing for the U.S. to up its Bitcoin game. With an extensive financial background, Lummis has repeatedly advocated for a national Bitcoin reserve to help reduce the U.S.'s ballooning debt.
Meanwhile, David Sacks, Trump's crypto czar, has tweeted that "important announcements are coming soon" in relation to the administration's exploration of a national Bitcoin reserve. Sacks has also confirmed the inter-agency working group is making substantial progress in implementing the president's Bitcoin agenda.
- Despite Donald Trump's crypto advisor, David Sacks, hinting at an important announcement, Bitcoin's price has taken a slight dip, with Elon Musk's antics and Bitcoin's recent $110,000 peak due to the Satoshi Nakamoto revelation affecting its momentum.
- Abu Dhabi's sovereign wealth fund, with a $1 trillion wealth, has joined the adoption race by investing about $436 million in BlackRock's spot Bitcoin ETF in Q4 2024.
- Following Abu Dhabi's investment, there have been rumors that other countries, backed by their sovereign wealth funds, have secretly been stocking up on Bitcoin, fueled by explosive comments from BlackRock's CEO in January.
- David Bailey, the CEO of Bitcoin Magazine publisher Bitcoin Inc, revealed that Abu Dhabi's investment was far more significant than its official filing suggests and hinted at other Gulf Cooperation Council (GCC) members making significant Bitcoin moves.
- With an extensive financial background, Senator Cynthia Lummis, a pro-Bitcoin advocate from Wyoming, has repeatedly advocated for a national Bitcoin reserve to help reduce the U.S.'s ballooning debt, echoing Bailey's sentiments.
- David Sacks, Trump's crypto czar, has tweeted about important announcements related to the administration's exploration of a national Bitcoin reserve and confirmed the inter-agency working group's progress in implementing the president's Bitcoin agenda.
