David Bailey, a Bitcoin adviser to Donald Trump and the CEO of Bitcoin Magazine, has announced plans to create a $200 million political action committee (PAC). The goal is to advance Bitcoin-friendly policies and support pro-crypto candidates in the political arena.
Rumors are circulating that the US has sold off 80% of its Bitcoin reserves, causing concern. However, Arkham Intelligence indicates the US still holds approximately 198,000 BTC. Senator Lummis voiced concerns, while others speculate the sale is linked to political shifts.
Bitcoin surpassed $112,000, reaching a new all-time high. The surge is driven by increasing investor demand, inflows into Bitcoin ETFs, and the pro-crypto stance of the Trump administration.
The U.S. Securities and Exchange Commission (SEC) has accepted Trump Media's application for a Bitcoin and Ethereum exchange-traded fund (ETF). The ETF proposes offering investors exposure to Bitcoin and Ether through shares listed on NYSE Arca.
Analysts predict Bitcoin could benefit significantly from a potential 'Big Beautiful Bill' under a second Trump administration. This optimism stems from Trump's increasingly pro-crypto stance and policies aimed at boosting the economy and deregulation, which are seen as favorable for the digital asset.
President Donald Trump stated that Bitcoin transactions alleviate pressure on the US dollar and bolster US dominance in digital assets. He also emphasized the importance of US leadership in the crypto sector to counter China's influence.
