US Bitcoin Reserve Act Reintroduced Amid Market Reaction

Senator Cynthia Lummis has reintroduced the Strategic Bitcoin Reserve Act, proposing the US government acquire up to one million Bitcoin over five years, reflecting President Trump's executive order to establish a federal Bitcoin reserve. Supported by five Republican Senators, the bill aims to integrate Bitcoin into the US financial strategy for economic stability and innovation, with funding sourced from Federal Reserve earnings and adjustments to Treasury certificates based on gold holdings. This announcement led to a market reaction, with Bitcoin prices rising by 8.3% and Ethereum by 5.2%. The acquired Bitcoin would be stored in a decentralized network and held for at least 20 years, with restrictions on sales. Michael Saylor also proposed a more ambitious plan for the US to acquire 5% to 25% of the Bitcoin network, potentially generating up to $81 trillion by 2045.