Bitcoin suddenly rose and its price approached $80,000 per Bitcoin. Expectations are rising that the next US president could follow through on his promise to create a “game-changing” Bitcoin strategic reserve.

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Bitcoin price is up almost 20% since this time last week. as investors bet on a major milestone before the new year. Smaller cryptocurrencies also boomed higher, with Ethereum up 30%, Dogecoin up 50%, and Cardano up 70%.

Now, Federal Reserve and China enter a ‘perfect storm’ for Bitcoin priceRumors are circulating that a country is quietly purchasing Bitcoin.

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“There is at least one nation state that is actively purchasing Bitcoin and is currently in the top five,” said CEO David Bailey. Bitcoin Magazine publisher Bitcoin Inc and advisor to the Trump campaign on Bitcoin strategy, sent To X. “Hopefully we’ll hear from them soon.”

Rumors and speculation about countries purchasing bitcoin have been around for years, with El Salvador adopting bitcoin as legal tender and experiments with bitcoin mining in the Himalayan Kingdom of Bhutan.

Donald Trump’s promise to make the United States the “crypto capital of the planet” and create a bitcoin strategic reserve at a bitcoin conference hosted by Bailey in Nashville, Tennessee, in July further fueled high expectations.

Earlier this year, U.S. senator Cynthia Lummis (R-Wyo.) introduced the Bitcoin Act to Congress, calling for the creation of a strategic bitcoin reserve to reduce the spiraling U.S. national debt of almost $36 trillion by purchasing 1 million bitcoins within five years. found. .

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Elsewhere, the US state of Pennsylvania last month passed a bill providing some regulatory clarity around bitcoin and cryptocurrency, designed to protect people’s right to personal custody, ensure they can use bitcoin as payment, and set out guidelines on taxing bitcoin transactions .

“I just made a huge phone call,” said Dennis Porter, founder of the Satoshi Action Fund, which helped pass the bitcoin and crypto bill in Pennsylvania. sent To X. “I’m not going to lie… I’m more optimistic than ever today. Big things are coming.”