PakGazette – In a recent tweet, cryptocurrency investor, trader and entrepreneur Willy Woo shared his opinion on the prospects of creating the US National Reserve and why the new US president did not sign any orders about it on his first day in the White House. .
Woo has warned that building a strategic Bitcoin reserve for the US is not easy in terms of approval and execution. Therefore, its onset can take up to two years.
It takes between 6 and 24 months to start buying Bitcoin
Woo explained how he views the US Bitcoin national reserve: “The Bitcoin Strategic Reserve needs the buy-in of Congress and the House.” He noted that issuing an executive order on Inauguration Day would be “the forceful way to execute this.”
If approved, Willy Woo continued, then, he stated, nothing of that magnitude would happen immediately. The trader believes that it would take the US government six to twenty-four months just to “execute BTC stacking.” Even so, Woo believes that the markets would begin to react sooner and “initiate a process of speculative advance.” The original plan said that the United States would buy 200,000 BTC every 12 months for the next five years.
Kiyosaki Predicts Bitcoin Will Hit $250,000 This Year
As previously reported by PakGazette, financial guru and author of the popular book “Rich Dad, Poor Dad,” Robert Kiyosaki, shared a prediction that this year, the world’s pioneering cryptocurrency, Bitcoin, would reach a staggering $250,000. per currency.
This was a slightly lower forecast than the one he made twice in December. Back then, Kiyosaki stated that he expected Bitcoin to reach $350,000 in 2025. Still, that was the maximum price level in his prediction. The minimum was $175,000 per Bitcoin.
Bitcoin hits all-time high of $109,114
On Monday, January 20, the price of Bitcoin jumped almost 10%: from approximately $99,700, it surpassed the $100,000 level and continued to rise rapidly to reach a new all-time high of $109,114. The price jump occurred before the inauguration of the new US president in the White House.
Currently, Bitcoin has lost some of its recent gains and is trading at $102,650.
