TL;DR
Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally launched a invoice 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 impression the crypto world in each the quick time period, and the long run.
Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally launched a invoice to the U.S. Senate on Wednesday looking for to ascertain a nationwide Bitcoin reserve.
She first introduced the invoice 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 option to go for the invoice to truly be permitted and applied, the mere introduction of the invoice ought to have some type of optimistic impression on investor confidence round Bitcoin.
(And as we all know, BTC goes up >> all the pieces goes up 🚀)
And in the long run:
If handed (which might be monumental for BTC), it will certainly result in wider acceptance of crypto on the whole, and produce us nearer to a world the place crypto is simply one other a part of the mainstream monetary system.
(Undecided that’s what each crypto degen desires, however it’s sure to occur).
Likelihood is, it will additionally spur a flurry of different international locations additionally establishing BTC reserves, placing an entire lot extra purchase stress in the marketplace.
No matter timeframe you take 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 🙃
