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In a recent tweet, cryptocurrency investor, trader, and entrepreneur Willy Woo shared his take on the prospects of creating the US national Bitcoin Reserve and why the new US president did not sign any orders about it on his first day in the White House.

Woo has warned that building a strategic Bitcoin Reserve for the US is not easy in terms of approval and execution. Therefore, it may take up to two years to start.

6-24 months needed to start buying Bitcoin

Woo explained the way he sees the US national Bitcoin reserve happening: “The Bitcoin Strategic Reserve needs buy in from Congress and the House.” And he pointed out that issuing an executive order on the day of inauguration would be “the blunt way to execute this.”

If it is approved, Willy Woo continued, then, he stated, nothing of that scale happens immediately. The trader believes that it would take from six to twenty-four months for the US government to only “execute on BTC stacking.” Still, Woo reckons that the markets would begin to react earlier than it happens and “start a process of speculative front running.” The original plan said that US would buy 200,000 BTC every 12 months within the next five years.

Kiyosaki predicts Bitcoin to $250,000 this year

As reported by U.Today earlier, financial guru and the author of the popular book “Rich Dad Poor Dad” Robert Kiyosaki shared a prediction that this year the world’s pioneer cryptocurrency Bitcoin would reach a staggering $250,000 per coin.

That was a forecast slightly lower than the one made by him twice in December. Back then, Kiyosaki stated that he expected Bitcoin to spike as high as $350,000 in 2025. Still, that was the maximum price level in his prediction. The minimum one was $175,000 per one Bitcoin.

Bitcoin hits $109,114 record peak

On Monday, January 20, Bitcoin price jumped by almost 10% - from roughly $99,700 it surpassed the $100,000 level and kept rapidly surging until it hit a new all-time high at $109,114. The price jump took place before the new US president’s inauguration in the White House.

Currently, Bitcoin has shed some of its recent gains and is trading at $102,650.