Digital asset management company CoinShares released a report saying that if the Trump administration passes the Bitcoin Act, it could bring huge benefits to the crypto industry. If passed, the proposal would treat Bitcoin (BTC) as a strategic reserve asset, similar to gold, and allow the US government to purchase BTC up to 5% of the total supply of Bitcoin. The Bitcoin Act is a bill proposed by US Senator Cynthia Lummis to help reduce the national debt by establishing a Bitcoin reserve. The report pointed out that if the legislation is successful, Bitcoin will also gain greater legitimacy after having a recognized position in the national reserve. (CoinDesk)