PK Press Club – In a recent tweet, cryptocurrency investor, trader and entrepreneur Willy Woo shared his views on the prospects of creating the US National Reserve and why the new US president has not signed any orders to do so. subject on his first day in the White House. .
Woo warned that creating a strategic Bitcoin reserve for the United States is not easy in terms of approval and execution. Start-up can therefore take up to two years.
6 to 24 months needed to start buying Bitcoin
Woo explained how he envisions the creation of the US National Bitcoin Reserve: “The Bitcoin Strategic Reserve must be approved by Congress and the House. ” He stressed that issuing an executive order on Inauguration Day would be “the most brutal way to execute this.”
If this is approved, Willy Woo continued, then, he said, nothing of this magnitude would happen immediately. The trader estimates that it would take six to twenty-four months for the US government to “execute just the BTC stack.” Nonetheless, Woo believes that markets would start to react sooner and “start a speculative front process.” The original plan called for the United States to purchase 200,000 BTC every 12 months for the next five years.
Kiyosaki predicts Bitcoin will hit $250,000 this year
As reported by PK Press Club earlier, financial guru and author of the popular book “Rich Dad Poor Dad” Robert Kiyosaki shared a prediction that this year the world’s pioneer cryptocurrency, Bitcoin, would reach the staggering price of $250,000 per piece.
That’s a slightly lower forecast than he made twice in December. At the time, Kiyosaki said he expected Bitcoin to reach $350,000 in 2025. Still, that was the maximum price level in his prediction. The minimum was $175,000 per Bitcoin.
Bitcoin hits record high of $109,114
On Monday, January 20, the price of Bitcoin jumped almost 10%: from around $99,700, it surpassed the $100,000 level and continued to rise rapidly until reaching a new all-time high at 109 $114. The price rise took place before the inauguration of the new US president at the White House.
Currently, Bitcoin has lost some of its recent gains and is trading at $102,650.
