Bitcoin Retests $90,000 Amid Speculation of Preferential Treatment in Trump’s Crypto Reserve 🤑
Bitcoin (BTC) has surged past the $90,000 mark due to reports of potential preferential treatment in President Donald Trump's US crypto reserve strategy. This speculation arises before the White House Crypto Summit, hosted by Trump, featuring prominent digital asset industry executives.
Commerce Secretary Howard Lutnick indicated that the strategic cryptocurrency reserve would be discussed at the summit. Lutnick stated that Trump envisions a special role for Bitcoin, distinct from other cryptocurrencies, suggesting unique status under Trump's plans.
Following the news, Bitcoin hit the psychological level of $90,000, a 7% increase since Wednesday's session. Trump's administration aims to elevate the crypto sector, announcing the inclusion of XRP, SOL, and ADA in the US crypto reserve along with Bitcoin and Ethereum.
However, Lutnick's comments imply that Bitcoin may receive distinct status, fueling market debates. Critics argue that favoring Bitcoin could create market distortions, while others predict increased investment in altcoins.
Henrik Zeberg Jensen, a fund manager at Swissblock Technologies AG, emphasizes that the success of any token will depend on its usability, regardless of Trump's picks.
If Bitcoin gets preferential treatment, altcoins could still benefit since Bitcoin-led rallies often trigger altcoin surges.
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