Federal Reserve Considers Bitcoin Reserves
Market Highlights
• Bitcoin price rebounded from the low at the end of July to over $117,500, with a weekly increase of 4.9%
• Current price is $116,650, and the technical pattern shows a bullish flag breakout
• Trading volume remains stable at $57 billion, with a market capitalization of 58.25% of the crypto market
Policy Environment Changes
• Trump nominates crypto supporter Stephen Moore to the Federal Reserve Board
• The Federal Reserve is considering establishing a Bitcoin strategic reserve through gold reserve valuation returns for the first time
• The White House releases its first crypto policy report, clarifying the regulatory framework
Institutional Fund Movements
• Institutional investors net bought 30,000 BTC within 48 hours at the end of July
• Harvard University invested $116 million to purchase Bitcoin ETFs
• Mainstream financial institutions are forming a consensus that Bitcoin is a new type of reserve asset