As President Donald Trump’s first 100 days in office come to a close, the cryptocurrency market remains skeptical about his plans for a U.S. Bitcoin reserve.
President Donald Trump has initiated the process of establishing a U.S. Bitcoin reserve, but Polymarket traders are doubtful it will be realized within the first 100 days of his presidency.
A bitcoin reserve is a digital wallet that stores and manages large amounts of cryptocurrencies, typically for institutional investors.
These reserves are designed to provide liquidity and stability to the cryptocurrency market.
According to a report by CryptoSlate, over 100 institutions have established bitcoin reserves, holding a combined total of over $10 billion in assets.
The largest holder is reportedly Goldman Sachs, with a reserve valued at approximately $1.5 billion.
Market Sentiment: A Divided Opinion
The announcement caused a spike in the value of ‘XRP‘ and ‘SOL‘, before it was clarified that ‘BTC‘ and ‘ETH‘ will also be included in the reserve.
A weekend Truth Social post from President Donald Trump set in motion the first steps in creating a strategic U.S. bitcoin (BTC) reserve.
Initially, the announcement caused a spike in the value of ‘XRP‘ and ‘SOL‘, before it was clarified that ‘BTC‘ and ‘ETH‘ will also be included in the reserve.
As of press time, Polymarket bettors are giving a 23% chance that a strategic BTC reserve will be created within the first 100 days of the Trump presidency – or by April 30th, 2025. This is an increase from the initial 11% chance before Trump‘s announcement.
The rules of the contract state that the U.S. government will need to specifically hold bitcoin – and not confiscate it – by 11:59 PM ET on April 29 for this to resolve to yes.
Announcements of the creation of a reserve do not count towards resolving the contract.
Another contract that asks if a reserve will be created by the end of 2025 currently has a 65% chance of resolving to yes. One of the most profitable traders of the 100-day crypto reserve contract is Theo5, which appears to be affiliated with a French trader who created a series of accounts to directionally bet on Trump‘s victory in the November 2024 election.
Theo5 has posted a $40,000 profit on their no position. Meanwhile, a trader known as Polywog lost $73,000 on their yes position and also lost over $560,000 by incorrectly betting on the outcome of the 2025 election.
- coindesk.com | Bitcoin Reserve in 100 Days of Trumps Presidency? Market Is Still Skeptical
- businessinsider.com | Bitcoin Reserve in 100 Days of Trumps Presidency? Market Is Still ...
