FameEX Morning Crypto News Recap | December 18, 2024

Trump Aims to Utilize $200 Billion U.S. Treasury Forex Stabilization Fund to Establish Bitcoin Reserves

US President-elect Trump plans to create a Strategic Bitcoin Reserve (SBR) using the Treasury’s Exchange Stabilization Fund (ESF), which will exceed $200 billion by October 2024. This initiative aims to position the U.S. as a leader in global Bitcoin reserves, leveraging funds typically used during financial crises.

U.S. Bitcoin Policy Institute Prepares Executive Order to Classify Bitcoin as a Strategic Reserve Asset

A public document reveals that the U.S. Bitcoin Policy Institute has prepared an executive order to classify Bitcoin as a strategic reserve asset. The order will take effect once signed by Trump on his first day in office.

Bitcoin Reverses After Surpassing Historical High, Whale Holdings Could Act as Support

On December 17, Bitcoin surged to a record high before quickly dropping over $2,000, returning to near the opening price. Whalemap data indicates that whales holding over 150,000 BTC at $98,133 could provide support during the pullback.

Bitcoin ETF, Miners, and Enterprises Control Over 20% of Total Bitcoin Supply

On December 17, Trader T revealed on social media that Bitcoin ETFs, miners, and enterprises together hold over 20% of the total Bitcoin supply.

Bitcoin ETFs in the U.S. Now Manage More Assets Than Gold ETFs

K33 research director Vetle Lunde revealed that Bitcoin ETFs in the U.S. now manage $129.3 billion, surpassing gold ETFs' $128.9 billion. Despite gold's 20-year first-mover advantage, Bitcoin ETFs have now overtaken them in asset size.

European Parliament Members Advocate for Bitcoin Strategic Reserve and Oppose Digital Euro

On December 17, Bitcoin Magazine reported that European Parliament members are advocating for the creation of a Bitcoin strategic reserve while opposing the implementation of a digital euro.

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