On November 15, FOX Business exclusively broke the news that President-elect Donald Trump’s proposal to establish a national Bitcoin reserve is causing a stir across the country!
Back in May, when Trump’s stance on cryptocurrencies was still shrouded in mystery, ZeroHedge made a bold prediction: Trump would not only win the crypto vote, but also announce a strategic Bitcoin/Ethereum reserve after four years of anti-cryptocurrency nightmares! (We recommend 2 million Bitcoin/10 million Ethereum)
However, at the Bitcoin 2024 conference in Nashville, Trump was passionate about cryptocurrencies but was slow to make a clear commitment. Do you think he is playing a stalling tactic and waiting to make a big move after returning to the White House?
According to Fox Business, Trump is about to return to the White House. Pennsylvania legislators can't wait to propose the (Pennsylvania Bitcoin Strategic Reserve Act), which is the first of its kind! Pennsylvania is ready to invest 10% of its $7 billion in state funds in Bitcoin. Imagine if Pennsylvania legislation is passed, it means that Bitcoin will officially become a state government's strategic reserve asset - Bitcoin has gradually moved from an early speculative asset to the center stage of mainstream finance.
Mike Cabell, a Republican congressman from Pennsylvania and the sponsor of the bill, expressed confidence: "This will not only protect Pennsylvania from the severe impact of inflation, but also make our state a leader in financial resilience and innovation!"
And this isn’t just wishful thinking in Pennsylvania! Pro-crypto senators say they hope to push for a Bitcoin Reserve Act across the country within President Trump’s first 100 days in office!
What’s more, the Satoshi Action Fund, which helped Pennsylvania lawmakers draft the Bitcoin Bill of Rights, is also behind the new Strategic Reserve Act! They have successfully helped draft and pass Bitcoin-related legislation in 21 states!
Trump has pledged to make the United States the "global capital of cryptocurrency" and Bitcoin a "permanent national asset." Since Trump's victory, Bitcoin prices have soared 20% to an all-time high of over $93,000 per coin! The market cap is over $1.8 trillion! This makes Bitcoin the seventh-largest asset in the world after gold and five U.S. tech giants!
Before the United States announced that it would officially purchase cryptocurrencies for the U.S. Treasury, the surge in Bitcoin has attracted global attention! Do you feel the surging momentum brought by Bitcoin in the new round of bull market? Moreover, U.S. states have already taken action, and even other countries may follow suit. In such an environment, it is particularly important for investors to maintain a keen sense of the market.
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The above content is for information sharing only and does not constitute any investment advice! Investment is risky, so be cautious when entering the market!
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