Summary Review: A new proposal in the United States, advocating the creation of a national Bitcoin reserve, is gaining momentum following Donald Trump’s 2024 presidential election win. With bipartisan support, experts suggest this move could push Bitcoin’s price to over $1 million during this market cycle.
The United States may be taking steps toward adopting Bitcoin as part of its national strategy. A proposed Bitcoin Reserve Act, backed by Wyoming Senator Cynthia Lummis, seeks to establish Bitcoin as a “savings technology” for the nation. This initiative has gained traction in the wake of Donald Trump’s 2024 presidential victory, which has raised hopes for more cryptocurrency-friendly policies.
Support for the Bitcoin Reserve Act
The Act, gaining bipartisan support, is touted as a landmark step toward integrating Bitcoin into the U.S. economy. According to Anastasija Plotnikova, co-founder and CEO of Fideum, the bill could pass within the next four years. She highlighted that efforts at the state level, such as Pennsylvania’s Bitcoin Strategic Reserve Act, are serving as blueprints for broader adoption.
At the federal level, the U.S. government already holds Bitcoin valued between $18 billion and $19 billion. Plotnikova believes this provides a strong foundation to initiate the national reserve plan.
Impact on Bitcoin’s Price
Adam Back, co-founder and CEO of Blockstream and a leading cryptographer, suggests that creating a strategic Bitcoin reserve could set the stage for Bitcoin to reach over $1 million per coin during this market cycle. The combination of increased governmental interest and existing federal holdings could boost Bitcoin’s standing as a long-term asset.
Implications for the Market
If enacted, the Bitcoin Reserve Act could position the U.S. as a global leader in cryptocurrency adoption. This move could inspire other nations to explore similar policies, potentially transforming Bitcoin into a universally recognized financial tool.
Summary Review: A new proposal in the United States, advocating the creation of a national Bitcoin reserve, is gaining momentum following Donald Trump’s 2024 presidential election win. With bipartisan support, experts suggest this move could push Bitcoin’s price to over $1 million during this market cycle.
Disclaimer: Nothing in this article, or any content from Web30 News, should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves risks, and investors should be aware that capital is at risk and returns are never guaranteed. Please conduct thorough research and consult with a qualified financial advisor before making any investment decision.
