BTC News Today: Price Dipping & Rumors Of SBR

Tuesday was rough for BTC and its holders as the token fell below the $95,000 mark. This sharp slump came four weeks after hitting the all-time high of $109,200. This sharp fall below the $95k support is concerning due to declining odds of Strategic Bitcoin Reserve in the US Polymarket.  

It all started when a Polymarket poll with over $6.9 million in assets was placed. As per the poll, the odds were that Donald Trump would create an SBR in the first 100 days of his presidency. The odds were placed at 12%. However, the odds have been on a strong downtrend since it peaked at 40% in January.  

As per current sources, another similar poll is staking against the likelihood of signing the Strategic Bitcoin Reserve Act in 2025. The odds started high with over 60% but have since dropped to 38%. However, the state senate will hear appeals regarding establishing SBRs across states like Wyoming, Alabama, Florida, Arizona, and Wisconsin. Therefore, things might be different in the future.  

Is SBR Happening? 

Trump’s new administration is deliberating on a strategic Bitcoin reserve. Sources suggest that David Sacks, a Venture capitalist turned politician, spearheads these efforts. Sacks has openly admitted to these ongoing happenings. However, rumors suggest that sacks might begin this journey with the aid of seized BTC tokens by the US government. As per BitcoinTreasuries’ data, the US government holds close to 198,109 BTC, which is valued at $18 billion.  

This move by the US government can be significant as it can encourage other nations like China and Britain to join the action. As a result, BTC is a global digital asset backed by governments.