🚀 Senator's Bitcoin reserve proposal + Trump's supportive attitude, the cryptocurrency market may welcome new opportunities!
Hey, cryptocurrency friends! The political vane at the Bitcoin Conference at the end of July is really exciting and nervous! Senator Lummis proposed a super bold proposal at the conference, which may have a profound impact on the cryptocurrency market!
🌪️ Regarding this report, I only care about two points:
🚀 First, the proposal recommends that the US government purchase at least 200,000 bitcoins per year for the next five years, totaling 1 million. These bitcoins will be held by the government for more than 20 years and will be used exclusively to repay federal debts. After the 20-year lock-up period, the number of bitcoins sold by the government every two years will be limited to 10% of the total holdings. Lummis said that only such a strategy can help gradually reduce the US national debt. Doesn't it sound exciting?
💰 Secondly, the Federal Reserve also proposed a reassessment of the total value of gold held by the US government. Currently, the U.S. government's gold holdings are valued at about $11 billion, based on an official book value of $42.22 per ounce. However, according to MarketWatch, the market price of gold is more than 50 times higher than the official U.S. book value. If re-evaluated at market prices, the value of gold held by the United States may be as high as $550 billion to $600 billion.
🤔 At this point, do you think that if the government converts part of its gold into Bitcoin, the crypto market will usher in another major positive! Although it is not practical at present, who can say for sure?
💰 From the proposal of senators to open their arms to Bitcoin, and Trump's presidential campaign team has also begun to extend an olive branch to cryptocurrencies. Does this mean that Bitcoin is about to be officially accepted and adopted by the government?
🌟 Think about it, a few years ago, we were still working hard for the recognition of Bitcoin, and now it may become the leading national strategic reserve. How can this transformation not make people look forward to it!
💬Finally, what do you think of the government's possible acceptance of Bitcoin? Do you think the road to Bitcoin’s national strategic reserve will be smooth sailing? Tell me what you think in the comments!
