UFC Fighter Conor McGregor Backs an Irish National Bitcoin Reserve as BTC Price Rallies

Former UFC champion and newly declared Irish presidential candidate Conor McGregor has voiced support for creating a national Bitcoin reserve in Ireland. In a May 9 post on X , McGregor argued that Bitcoin aligns with the principle of financial empowerment. “Crypto in its origin was founded to give power back to the people,” he wrote. “An Irish Bitcoin strategic reserve will give power to the people’s money.” Bitcoin Price Surges to Over $104,000 McGregor’s proposal comes amid a sharp rally in Bitcoin, which recently surged to over $104,000. He plans to elaborate on his vision during an upcoming X Spaces event, inviting key Bitcoin figures to join the conversation. “We need the greatest minds for this BTC Reserve. Message me and let’s chat,” he responded to crypto influencer Anthony Pompliano. U.S. presidential crypto advisor David Bailey also expressed interest, to which McGregor replied enthusiastically. McGregor announced his independent run for the Irish presidency in March 2025, focusing on crime reduction and strict immigration policies. Ireland’s next presidential election is scheduled no later than November 11, 2025, when the current term of President Michael D. Higgins ends. While the idea of a Bitcoin reserve is bold, it’s uncharted territory for Ireland. Only a few nations—including the U.S., El Salvador, and Bhutan—have actively explored sovereign Bitcoin reserves. Crypto in it’s origin was founded to give power back to the people. An Irish Bitcoin strategic reserve will give power to the people’s money. I will be cohosting a Twitter space to talk about what I want to see changed. Victory to Ireland! — Conor McGregor (@TheNotoriousMMA) May 9, 2025 Implementing such a strategy, especially from an independent candidate without party backing, would face significant political and regulatory hurdles. McGregor’s crypto credibility has also come under question. His previous blockchain venture, the REAL project, failed to meet its $1 million funding goal during its April pre-sale, raising just $392,315 before issuing refunds to investors. The project aimed to merge crypto and gaming but failed to gain traction. Adding to his controversial profile, McGregor is appealing a recent civil conviction for sexual assault and has previously faced investigations over hate speech. Bitcoin Holds Above $103K but Momentum Indicators Signal Weakness Bitcoin is trading at $103,546 after peaking at $104,765, showing signs of slowing momentum following last week’s bullish rally. While the price remains above key support, indicators suggest the market may be cooling off in the short term. On the 30-minute chart, the RSI has dipped below the neutral 50 line to 44.64, reflecting reduced buying strength. The MACD has also flipped bearish, with the signal line crossing above the MACD line — a common sign of potential downside pressure. Bollinger Bands are starting to narrow, indicating declining volatility. Short-term movement on the 1-minute chart confirms the weakness, with the RSI hovering near 41.5 and the MACD turning negative. Bitcoin is now trading near the lower Bollinger Band, signaling cautious sentiment among intraday traders. If bulls fail to defend the $103,000 level, further downside could follow. However, holding above that mark would keep the broader uptrend intact for now. The post UFC Fighter Conor McGregor Backs an Irish National Bitcoin Reserve as BTC Price Rallies appeared first on Cryptonews .

Source: cryptonews