F&G: 94
Price: $97 – 99.5k (or) £75 – 78.9k
Hashrate: 790 EH/s
Nodes: 19,152
MSTR Price: $400

The USA is now one step closer to creating a Bitcoin Reserve. Current proposals have the US trying to accumulate 1 million Bitcoin over a five year period. This could be absolutely explosive for the price, and could ultimately lead to a recalibration of the economic landscape as we know it today. It could see us move to a bitcoin standard – a world in which government currencies are backed by bitcoin.

Polymarket, an online betting platform currently has the odds of this happening at around 44%. Polymarket gained a lot of attention recently as it was used to predict the US presidential election. The FBI have even launched an investigation into it as a recent pollster committed a 40 million dollar bet on Trump winning.

Bitcoin also came close to hitting that $100k mark today, being just $500 off. Hitting $100k is a big deal as it serves as a psychological price level. Reaching it could see Bitcoin surpass it in a very short span of time as the next order of magnitude is $1 million.

And yes. There are folks calling for a $1 million Bitcoin next year.

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https://twitter.com/BTC_Archive/status/1859916863750439041

Meanwhile, the MSTR playbook continues to intensify and I will leave the link to Michael Saylor’s X post below in which he was interviewed on CNBC today.

https://x.com/saylor/status/1859958862260121861

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The last point today is that it seems Bitcoin backed loans are coming. I won’t dive into the weeds of it here in this update, but again, I will leave a link to an interview that took place on CNBC today.

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I had posted on X earlier this week that we would hit 100k this week, and I am still confident in that assessment.

The question is:

What comes after 100k?