'Big Things Are Coming'—Bitcoin Suddenly Explodes, Mysterious Rumors About Secret 'Nation-State' Adoption Fuel Crypto Price Explosion

Bitcoin suddenly rose and its price approached $80,000 per Bitcoin. Expectations are growing that US President-elect Donald Trump could 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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Bitcoin rose to an all-time high in the days after Donald Trump’s US election victory. … (+) It is pulling the price of smaller cryptocurrencies with it.

AFP via Getty Images

“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 Trump campaign advisor, on publisher Bitcoin Inc and bitcoin strategy sent To X. “Hopefully we’ll hear from them soon.”

Rumors and speculation about countries buying bitcoin have been around for years, fueled by El Salvador’s adoption of bitcoin as legal tender and experiments with bitcoin mining in the Himalayan Kingdom of Bhutan.

Wild speculations took social media by storm earlier this year Qatar bought hundreds of billions of dollars worth of Bitcoin.

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.

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

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Bitcoin price rose further this week, surpassing its previous all-time high. … (+) It is approaching $80,000 per Bitcoin.

Forbes Digital Assets

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.”

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