Jeff Park, head of alpha strategies at Bitwise Invest, has predicted that the price of Bitcoin might potentially hit $1 million if the US creates a Bitcoin reserve.
“That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens,” Park said in a recent tweet.
However, he sees only a relatively small 10% of a federal Bitcoin reserve happening next year.
Earlier this year, Senator Cynthia Lummis of Lummis introduced a draft bill that would require the U.S. Treasury to acquire 1 billion Bitcoins over the course of five years.
The idea has attracted a lot of attention in recent months, with various pundits debating its viability.
Meanwhile, Polymarket buyers see a 31% chance of a Bitcoin reserve happening in 2025.
