This week, the Bitcoin 2024 meeting starts, and people are getting more and more excited about what Former President Donald Trump might say about Bitcoin and the cryptocurrency industry as a whole. Many people are guessing that Trump will talk about plans for a U.S. Bitcoin strategic reserve. This is what Polymarket bettors are most interested in.
Bets have been placed on Polymarket, a well-known prediction market site. At the moment, there is only a 22% chance that such an announcement will happen, which is not likely. coin when they become president” by the end of July 28. The bet will only become valid if official records or transcripts show that the announcement at the conference was made. At the moment, there is only a 22% chance that such an announcement will happen, which is not likely.
Betting Market Sentiment Shifts
People who bet on this market thought that Trump would make this important announcement 76% of the time. But now that the conference is almost here, faith has dropped a lot.
Last week, Dennis Porter, one of the founders of the Satoshi Act, started the conversation on social media. Porter’s tweet, which quoted reliable sources, said that Trump might talk about his plans to make Bitcoin the US’s strategic reserve asset. There was a lot of talk about this tweet over the weekend, but it hasn’t been talked about as much since President Biden’s surprise decision to drop out of the presidential run.
Adding Bitcoin to the U.S.’s strategic reserve would mean a significant shift in how we handle our money. This would make the U.S. the most significant owner of Bitcoin, which is what Trump has said before. The United States should be the place where all the extra Bitcoin is mined. Similar to how there is gold and other forms of money, the U.S. Treasury would be holding a significant amount of Bitcoin as a strategic backup.
