Leaked U.S. Government Crypto Strategy: What It Means for Bitcoin and a Bold Price Prediction

This blog post focuses on the implications of leaked government crypto strategy details, emphasizing the bullish outlook for Bitcoin. The content mirrors the data-driven, news-heavy style often seen in high-performing posts on The Street.

In a recent discovery, the U.S. government’s crypto strategy has been leaked, revealing critical insights into how major banks and regulators are preparing to handle digital assets. After a deep dive into hours of meetings and reports, the implications for Bitcoin holders are huge.

This report shines a light on the involvement of BNY Mellon, America’s oldest and largest custodian bank, which recently received SEC approval for crypto custody services. If you hold any crypto, this news is a game-changer. Here’s why the government’s strategy could send shockwaves through the industry, and why I’ve got a bold Bitcoin price prediction you won’t want to miss.

BNY Mellon: The Key to Bitcoin Custody

BNY Mellon, founded in 1784, is the oldest and largest custodian bank in the U.S., and they’ve just received the green light from the SEC to offer crypto custody services. This is massive news for the entire crypto market because custodial services allow banks to securely hold and manage assets like Bitcoin for their clients.

Custodial services are critical for the growth of institutional adoption, as they provide a secure way for large investors to hold cryptocurrencies. And when BNY Mellon—one of the most well-connected banks in the U.S.—gets involved, it signals a major shift in the crypto landscape.

The Hidden Details: Wyoming’s Blockchain Meeting

The leaked details come from a Wyoming public hearing, where discussions around BNY Mellon’s involvement in crypto were unveiled. Here’s the key takeaway: BNY Mellon has received a variance from the SEC, allowing them to bypass Staff Accounting Bulletin (SAB) 121, which has been a roadblock for banks looking to offer crypto custody services.

SAB 121 required banks to hold the same amount in cash reserves as the value of the cryptocurrency they were holding for clients—an enormous burden that kept many banks on the sidelines. However, BNY Mellon’s exemption from this rule signals a shift in regulatory attitudes, clearing the path for more traditional banks to enter the crypto space.

Why This is Huge for Bitcoin

This isn’t just about one bank. The move by BNY Mellon could lead to a domino effect, with other large financial institutions entering the crypto custody game. Michael Saylor, one of the largest Bitcoin holders, has hinted that major U.S. banks are preparing to custody Bitcoin. And now, with BNY Mellon leading the charge, it seems the floodgates could soon open.

Once traditional banks begin offering crypto custody services, institutional demand for Bitcoin could skyrocket, driving prices higher as Bitcoin becomes more accessible to large investors.

Bitcoin Price Prediction: Could We See $75K Soon?

Now, let’s talk about what this could mean for Bitcoin’s price. Recent analysis shows Bitcoin is currently forming a W-pattern, a bullish indicator that could push prices to new highs. Based on technical analysis, Bitcoin could soon hit $67,000 as it nears the top of its current trading range.

But that’s not all—if the W-pattern completes as expected, Bitcoin could soar to an all-time high of $75,000. This pattern, combined with the growing involvement of major financial institutions like BNY Mellon, creates a perfect storm for Bitcoin’s next major rally.

Conclusion: A Bullish Future for Bitcoin

With the U.S. government allowing banks like BNY Mellon to bypass restrictive regulations, the crypto market is on the brink of a major shift. Institutional adoption is accelerating, and Bitcoin’s price could soon reflect this new wave of demand.

As BNY Mellon and other banks enter the space, Bitcoin could be on track to hit $75,000, marking a new all-time high. If you’re holding Bitcoin or any other crypto, now is the time to pay attention to these developments—they could reshape the market in ways we’ve never seen before.

By: Nick Valdez / TheStreet Roundtable