The United States Bitcoin Strategic Reserve Act, will the world eventually follow suit?!
This Bitcoin Rights Act was drafted by the advocacy organization Satoshi Action Fund. The organization's founder, Dennis Porter, pointed out that he hopes to gain strong bipartisan support for the rights bill in October, which will serve as a bellwether for the acceptance of the strategic reserve bill. Porter stated that the strategic reserve bill is expected to become a model for other states to integrate digital assets into their portfolios, and they are currently negotiating similar legislation with 10 other states to implement related processes.
In addition, Republican Senator Cynthia Lummis expressed her hope to promote the Bitcoin Act during the first 100 days of Trump's return to the White House. Lummis suggested that the U.S. government sell part of its gold reserves to purchase one million bitcoins, equivalent to 5% of the total bitcoin supply. This move not only reflects a shift in the U.S. government's attitude towards cryptocurrencies but could also have far-reaching effects on global financial markets.
Reports indicate that with Trump returning to the White House, he will fulfill his promise to make the U.S. the 'crypto capital of the world,' with bitcoin becoming a 'permanent national asset,' driving bitcoin prices to new highs, once exceeding $93,000, with a market cap surpassing $1.8 trillion.
Currently, bitcoin is the seventh-largest asset in the world, only behind gold and five American tech giants: Nvidia, Apple, Microsoft, Amazon, and Google.
Bitcoin has become too big to ignore, with many giants, financial industries, and nations involved. The reserve act is just the beginning of the cryptocurrency journey, not the end.
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