The idea of Bitcoin reaching $1 million may seem like an ambitious projection, but experts suggest that it hinges on a transformative event: the creation of a U.S. Federal Bitcoin Strategic Reserve. Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, has put forward this bold claim, estimating the probability of such a reserve being established at less than 10% for 2025. While the likelihood is slim, the implications of such a move could be monumental for the cryptocurrency market. The idea of a federal Bitcoin Strategic Reserve happening in 2025 is less than a 10% chance event. That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens. — Jeff Park (@dgt10011) December 26, 2024 The Role of a Bitcoin Strategic Reserve A federal Bitcoin reserve would represent a groundbreaking shift in how governments interact with cryptocurrencies. It would involve the U.S. Treasury allocating funds to purchase and hold Bitcoin as a strategic asset. Park argues that such a reserve is the only scenario in which Bitcoin could reasonably achieve the $1 million price target by 2025. Here is a simple illustration of how probability math works– Bottom right looks most probable to me, ie. 2.5% chance. pic.twitter.com/KCsqHGnFMu — Jeff Park (@dgt10011) December 26, 2024 “The idea of a federal Bitcoin Strategic Reserve happening in 2025 is less than a 10% chance event,” Park stated on X (formerly Twitter). “That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens.” Park’s analysis underscores the potential for governments to influence Bitcoin’s trajectory. As the cryptocurrency market matures, the introduction of a federal reserve could drive institutional adoption, spark unprecedented demand, and create a domino effect across global markets. Bitcoin Price Outlook: Key Levels and Market Trends Bitcoin is trading at $94,570, down 1.75% over the past 24 hours, with a trading volume of $40.18 billion. The price remains below the $95,000 mark, facing resistance at $96,850. A break above this level could target $98,330 and $100,250, while immediate support lies at $92,140 and $90,400. The RSI at 43 reflects weak momentum, and the 50-day EMA near $96,850 reinforces bearish sentiment. A failure to break resistance may push prices toward $90,000, while a breakout could renew bullish momentum. Federal Bitcoin Reserve: A Game-Changer? Speculation about a U.S. Federal Bitcoin Strategic Reserve has intensified. Jeff Park of Bitwise Asset Management estimates a less than 10% chance of its establishment by 2025, but he argues it’s the only realistic path for Bitcoin to reach $1 million. Legislative and Market Developments Senator Cynthia Lummis has proposed legislation for the U.S. Treasury to acquire Bitcoin, sparking debate. Proponents see it as a hedge against inflation; critics cite volatility and risks. Market sentiment remains split, with prediction markets assigning a 31% chance of a reserve by 2025. Bitcoin Outlook While speculative, a federal Bitcoin reserve could redefine market dynamics, boosting prices through institutional adoption. For now, Bitcoin’s resilience continues to capture global attention, even as its $1 million milestone remains uncertain. You might also like Bitcoin Price Prediction 2024 – 2034 $BEST Wallet: Web3 Simplified, $5.9M Raised in Presale While Bitcoin’s price has remained relatively stable, there’s an emerging opportunity that has captured the attention of investors. Best Wallet is a revolutionary Web3 platform supporting thousands of cryptocurrencies across 50+ major blockchains, including Bitcoin and Ethereum. Users can securely manage their assets to buy, sell, and swap both same-chain and cross-chain without requiring KYC verification. Always stay one step ahead with Best Wallet! Get early access to new projects, seamless trading, and powerful tools built to keep you ahead in the market. This is what early truly feels like. Download Now https://t.co/RZCs6fkyKm pic.twitter.com/oy86QDf6i7 — Best Wallet (@BestWalletHQ) December 27, 2024 The $BEST token presale has now raised an impressive $5.9 million, priced at $0.023375. Early investors gain access to exclusive rewards and upcoming project launches. Why Consider Investing in $BEST? Utility-Driven: Tailored for seamless use in DeFi applications, staking, and token claims. Early Advantage: Gain presale perks and participate in exclusive project launches. Expanding Ecosystem: A rapidly growing community and partnerships with trending platforms like Pepe Unchained. The project’s active engagement on Twitter and Telegram reflects the strong interest from its community. With robust features and an ever-growing ecosystem, $BEST Wallet continues to distinguish itself as a leader in the Web3 landscape. The post Federal Bitcoin Reserve May Push Bitcoin Price to 1 Million appeared first on Cryptonews .
