American media predicts $100k Bitcoin by January 2025

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Last Updated on 8 November 2024 by CryptoTips.eu

CNBC, the largest American financial television channel, predicted this week that Bitcoin could reach a price of $100,000 if Donald Trump indeed fulfills all crypto promises. The “economy”-crazy Americans have clearly heard that news and are buying Bitcoin ETF stocks in great numbers.

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Bros

The Republican presidential candidate understood quite early in his campaign that crypto is very popular among young men in the United States. Even though Trump was previously quite critical of Bitcoin, since the beginning of 2024 he has completely changed his mind. 

Donald Trump promised the so-called ‘crypto bros’ (the group of young men who love crypto and are active on social media) to carry out various actions if he were elected. CNBC claims that Bitcoin could reach a price of $100,000 if those promises are also part of his government statement in January 2025.

Gensler

First, Trump promised to fire Gary Gensler. Gensler heads the American stock exchange watchdog SEC and has initiated lawsuits against crypto companies such as Coinbase, Kraken and Binance in recent years.

Journalists claim that Trump cannot fire Gensler at all and that he would remain as commissioner of the SEC even if he is no longer chairman.

Bitcoin reserve

Second, Donald Trump promised to create a strategic Bitcoin reserve. In that case, the United States would stop selling the Bitcoin (they are the largest Bitcoin holders in the country ranking) that it has seized and start buying Bitcoins instead. Both actions would positively influence the price.

Ross Ulbricht

Third, Trump promised to release Ross Ulbricht. He is serving a life sentence for setting up Silk Road, a website that was considered the first real use case for Bitcoin where you could buy drugs and other illegal material via the dark web.

Ulbricht’s prison sentence (life imprisonment) is seen as a warning to anyone who sets up an illegal trading platform where you can pay in crypto.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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