Strategic Reserve of Bitcoin and XRP???

CryptosRUs

Market Overview

  • The market is experiencing volatility due to an upcoming press conference by the Fed Chair.
  • Tomorrow's conference may bring hawkish or dovish news, affecting the market.
  • Bitcoin is currently hovering around $10,160.

Upcoming Fed Meeting

  • The Fed meeting may result in no rate cuts or a 30% cut.
  • Lower inflation numbers may not be good for Powell, as it could mean no need to cut the Fed fund rate.

Bitcoin News

  • Senator Lummis proposes a strategic reserve to buy 200,000 Bitcoin annually for 5 years, holding it for at least 20 years.
  • The proposal aims to use Bitcoin to pay down the national deficit.
  • Arizona has passed legislation to allow Bitcoin reserve, and other states have similar proposals.

Ripple and SEC

  • The SEC has removed the Ripple lawsuit from its website due to an ongoing appeal process.
  • There may be a significant announcement from the Ripple team soon.

Crypto Adoption

  • Trump is considering including American-based crypto projects, such as XRP, in the strategic reserve.
  • This move could make America a leader in crypto innovation.