Bitcoin Surges 50% Amid Trump's Strategic Reserve Hints

Bitcoin has surged back to near its all-time high of $112,000 per bitcoin, which was set in May. This surge comes as U.S. President Donald Trump hinted at an imminent Federal Reserve bombshell. The bitcoin price has climbed around 50% since hitting April lows, despite warnings of a $37 trillion “ticking time bomb.”

Tesla billionaire Elon Musk has surprised the market by backing a shock bitcoin prediction, and the bitcoin price is now poised for an “extraordinary” White House update. Earlier this year, President Trump signed an executive order creating a bitcoin strategic reserve, which sent the bitcoin price sharply higher. Bo Hines, executive director of the president’s council of advisers on digital assets, has hinted at an upcoming update to the U.S. strategic bitcoin reserve. Hines stated that the architecture of the reserve will be revealed soon, and the community will be pleased with the announcement.

During last year’s Bitcoin 2024 conference in Nashville, then presidential candidate Trump announced his plan to create a bitcoin strategic reserve if he won the White House. This promise was fulfilled in March via an executive order. Hines has also mentioned that the U.S. is exploring various ways to increase its bitcoin reserve without using additional taxpayer dollars, including through tariff revenue and revaluing the government’s gold certificates. Hines recently met with Salvador’s president Nayib Bukele, who has purchased 6,000 bitcoin for the country, to discuss potential collaboration on bitcoin and crypto. Stacy Herbert, director of El Salvador’s bitcoin office, hinted at significant developments for both partners as a result of this meeting.

During this year’s Bitcoin 2025 conference in Las Vegas, Wyoming senator Cynthia Lummis revealed that Trump supports her Bitcoin Act. This act proposes that the U.S. buy 1 million bitcoin over five years, financed using existing funds within the Federal Reserve System and the Treasury Department. The bitcoin price has been driven higher by Trump's plans for a bitcoin strategic reserve, and the market is now anticipating an extraordinary update from the White House. The bitcoin price is braced for significant movement as the White House prepares to reveal more details about its strategic bitcoin reserve.