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Crypto

White House nears announcement on strategic bitcoin reserve; new buying seen unlikely

The U.S. government has cleared key legal hurdles to establish a strategic bitcoin reserve, with an official announcement nearing, according to a report. The effort is seen focusing on building secure custody infrastructure and a legal framework to manage seized bitcoin, rather than large-scale new purchases. The U.S. government is said to hold about 328,372 bitcoin, about 1.6 percent of total supply, and concerns over security have added urgency to dedicated key management and storage systems.

Crypto

Tim Draper says BTC could reach $250,000 within 18 months. What is his basis?

Venture capitalist Tim Draper has again said bitcoin could reach $250,000 within 18 months, citing inflation pressure and a weakening dollar. He linked the view to shifts in the macro environment and said even higher levels could be possible if bitcoin rises while the dollar falls. Draper also revisited his bitcoin investing history, including losses tied to Mt. Gox and a 2014 U.S. Marshals Service auction purchase.