The American Senate is considering a bill to establish a Bitcoin reserve that could be enacted within the first 100 days of Donald Trump’s presidency. This proposal is sparking discussions among experts and stakeholders.
What is known about the Bitcoin reserve project?
In July 2024, Donald Trump announced the creation of a Bitcoin reserve in the US. Senator Cynthia Lummis is preparing the BITCOIN Act 2024 bill, which proposes creating a network of decentralized Bitcoin vaults. The US Treasury Department would buy 200,000 BTC annually for five years to establish a one million BTC reserve.
Bitcoin reserves to make the U.S. new crypto haven
Analysts at CoinShares believe implementing the Bitcoin reserve could generate institutional and government interest in Bitcoin. Pomp Investments' founder is confident the initiative might cause market ‘FOMO,’ with demand potentially outpacing supply and driving up BTC's value.
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Bitcoin and the crypto market's growth have sparked discussions, linking it to Trump's election. However, Jesse Myers, Onramp Bitcoin's co-founder, argues that post-BTC halving is causing a coin shortage leading to price increases.
The US Bitcoin reserve project is generating active discussions and could impact the cryptocurrency market. Its realization will be of interest to both investment policies and the development of the crypto industry in the country.
