The National Bitcoin Reserve Bill is Officially Introduced

TL;DR

• Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally introduced a bill to the U.S. Senate on Wednesday looking for to ascertain a nationwide Bitcoin reserve, which may have each quick and long-term advantages.

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Let’s cap issues off this week with some information which can influence the crypto world in each the quick time period, and the long run.

Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally introduced a bill to the U.S. Senate on Wednesday looking for to ascertain a nationwide Bitcoin reserve.

She first announced the bill at Bitcoin 2024 in Nashville final weekend however it wasn’t formally launched till Wednesday.

Right here’s why that is thrilling within the quick time period:

Two phrases: market sentiment.

Whereas there’s nonetheless an extended method to go for the invoice to really be authorized and applied, the mere introduction of the invoice ought to have some form of optimistic influence on investor confidence round Bitcoin.

(And as we all know, BTC goes up >> the whole lot goes up 🚀)

And in the long run:

If handed (which might be monumental for BTC), it might certainly result in wider acceptance of crypto normally, and convey us nearer to a world the place crypto is simply one other a part of the mainstream monetary system.

(Unsure that’s what each crypto degen needs, however it’s sure to occur).

Chances are high, it might additionally spur a flurry of different international locations additionally establishing BTC reserves, placing an entire lot extra purchase strain available on the market.

No matter timeframe you have a look at this, it’s enormous information.

Now we simply want the invoice to be reviewed, debated, voting on in each the Home and the Senate, and signed in by the President.

Easy 🙃