🤔 Have you ever imagined that one day the U.S. government would include BTC in its national reserves, transforming this once 'marginal' digital asset into 'digital gold,' standing alongside gold? This seemingly unattainable dream, under Trump’s push, is gradually stepping onto the central stage of reality.
🚀 Starting in 2024, digital assets like BTC have surged into the mainstream, becoming not only a popular choice for institutional investment but also occupying a place in cultural discussions. With the listing of Bitcoin spot ETFs in the U.S. securities market, the scale of institutional and corporate holdings has rapidly expanded, further solidifying BTC's status as 'digital gold.'
💪 Trump, the Republican presidential candidate, has openly expressed his support for the cryptocurrency industry in the 2024 U.S. election and boldly proposed the idea of 'establishing a BTC national reserve.' This proposal was like a stone thrown into a calm lake, instantly creating ripples in the crypto market.
👀 Now that the election results are in, can Trump’s vision turn from a dream into reality? Let’s explore the mysteries together.
👩💼 Cynthia Lummis, a Republican senator from Wyoming and a representative of the crypto radicals, proposed a BTC bill that coincides with Trump’s vision. She proposed establishing a decentralized BTC storage facility network managed by the Treasury Department and plans to acquire up to 200,000 BTC annually over the next five years, aiming to reach a total BTC reserve of 1 million for the U.S. government, which would account for approximately 5% of the total BTC supply.
📜 Moreover, Pennsylvania has also passed the (Bitcoin Rights Act), providing legal protection for the custody, operation, and trading of digital assets. Subsequently, the proposal of the (Bitcoin Strategic Reserve Act) has further elevated the Pennsylvania Treasurer's plan to purchase BTC and exchange-traded products of digital assets.
💼 After winning, the Trump team also announced a series of supportive policies related to the cryptocurrency industry. They will establish a dedicated position in the White House responsible for digital asset policy and plan to have Elon Musk and Ramaswamy jointly lead the newly formed 'Department of Government Efficiency' to promote government structural reform and entrepreneurial innovation.
📈 Along with these initiatives from the Trump team, the market value of BTC has also risen significantly. Since Trump’s victory, the market value of BTC has increased by over 40%, once approaching the $100,000 mark.
🤔 However, there is always a gap between dreams and reality. Despite the bullish market sentiment, many financial scholars and industry professionals hold a cautious attitude towards the 'establishment of a BTC national reserve' plan. They point out that BTC's asset stability is limited, and large-scale government acquisitions could inflate market prices and cause market distortions; at the same time, this plan does not align with the cautious stance the U.S. government has taken towards the crypto industry so far.
💡 In Mlion's view, despite the challenges and criticisms facing the 'establishment of a BTC national reserve' plan, it is undeniable that this concept has sparked endless imagination in the crypto market. It symbolizes that digital assets are gradually shedding their 'marginal' status and moving into the mainstream financial realm.
🚀 Let’s wait and see if Trump can turn this idea into reality, allowing BTC to truly stand alongside gold as 'digital gold.'
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