Projections for Bitcoin, experts: Could be up to a million dollars.

And with Trump now set to return to the White House in January, the promise has helped Bitcoin reach a series of record levels, with few signs of any imminent slowdown, writes Business Insiver.

I think it's exciting in the sense that it certainly gives krytomoneds and bitcoin” credibility, said Business Insider, Scott Mason, a senior Dutch&Knight policy adviser with expertise in blockchain and Krypton.

What would a <x0rebel bitcoin” do?

The same week that Trump pledged to create a national reserve, Wyoming senator Cynthia Lummys, “xor plan” for what it might look like.

According to its so-called BITCOIN Act, the US would collect 1 million bitumens over 20 years, with the aim of possessing approximately 5% of the total supply.

“Bitcoin has been estimated from the start. This would be an asset that could help support the US dollar as the world reserve currency and serve as a reserve that can be used to significantly reduce national debt”, she explained.

It is also supposed that the overprecious value of Bitcoin will counterbalanise the weakening of the dollar in case of another period of inflation.

“This is the kind of action that would cost us very little financially, but it could have a profound impact on our future financial health”, wrote expert Anthony Pompliano calling for the US to place “on <x3 billion dollars to raise more bitumen.

However, not everyone is convinced.

Ananya Kumar, deputy director for the future of money at “Atlantic Councils GeoEconomics Center”, is uncertain about the role of Bitcoin as a protection of inflation.

Unlike gold, she said the coin is still trying to follow the stock market.

If the US invests in an unstable asset, jeopardises the effects of the low-down flow into the economy”, it has warned.

Other ongoing issues also remain, such as if the American public . Most of whom do not own Bitcoin will favour the idea.

Despite that, whatever obstacles, investors are largely optimistic that a reserve will come next year.

Even according to the Kalshi betting market, there is a 64% chance that it will happen before 2026.

But all it can do is depend on Congress, where support seems to be missing now, says crypto-milliardier Michael Novogritz.

“While the Republicans control the Senate, they don't have 60 seats”, the founder of Galaxy told Bloomberg TV, questioning the need for a spare.

Congress will eventually have to cooperate with the Federal Reserve and Treasury, and it may take a while for that to happen.

Both Kumar and Mason said they don't expect Capitol Hill to give priority to the reserve.

What would happen to bitumen?

Novograz predicted that the event would constitute such a change that would send Bitcoin to the value of $500,000.

Its prediction is based on the idea that other countries would feel pressured to follow the example and create their bitumen reserves.

The same theory is why Matt Mena, the cryptos research strategy at “21Shares”, told BI earlier that Bitcoin could rise to $1m “almost overnight”.

“Such an action would spur a hurry from other countries..., promoting global competition to build reserves”, he said through email, predicting that “in this scenario, the total capital of Bitcoin's market could easily exceed the gold's”.

But Kumar doesn't expect the reserve impact to be so direct.

As recently reported, experts can take an example from the fact that countries tend to have an oil supply, and the price of oil can be affected when they increase or reduce their reserves.

The difference, however, is that oil is strategically important during major supply cuts, while the importance of Bitcoin as an asset to the governments they possess is still being debated.