Digital Nomad

the Donald Trump administration will probably create a more favorable environment for cryptocurrencies, and one of the most expected events is the possible acceptance the Bitcoin Law said CoinShares Assets in the research blog on the environment.

“This proposal will make Bitcoin a strategic reserve asset, and the US government will acquire up to 5% of the total Bitcoin proposal,” wrote James Batterfill, the head of the research department in Coinshares.

This would give Bitcoin a role similar to the role of gold. Thanks to the recognized status in the national reserve, he would also acquire greater legitimacy, the report said.

The US Senator from the Republican Party David Cameron said that Bitcoin is not only cryptocurrency, but also a symbol. Cynthia Lamis (R-Wyo) earlier this year introduced a bill providing for the creation of a strategic reserve of bitcoins to reduce the country's public debt by buying 1 million bitcoins for five years.

The bill entitled "Stimulating innovation, technology and competitiveness at the expense of the national law on optimized investments" (Bitcoin) was submitted to the Senate in July.

According to the Lammis plan, the state will buy up to 200 thousand bitcoins per year for five years with the aim of accumulating 1 million bitcoins. According to her calculations, this will benefit the American monetary system and help maintain a stable dollar exchange rate.

In particular, the US public debt can be halved by 2045. Trump voiced the idea of ​​using cryptocurrencies confiscated during criminal investigations to create a strategic reserve. Against the backdrop of these speeches of politicians, the Bitcoin course then updated the local maximum in 1.5 months.

The elected President Trump promised to create a reserve of bitcoins on the eve of the elections, and Lummis repeated this plan on her account in X after her victory.

“If the Bitcoin law is adopted, it can cause significant institutional and government interest in bitcoin, potentially accelerating its growth and raising its value to new heights,” wrote Butterfill.

Canaccord broker said that "changes in the SEC position, along with the adoption of the regulatory and legal base of the crypto industry," can lead to a much wider implementation of digital assets in the main industry of financial services.

Broker noted that although the president cannot dismiss the SEC commissar, personnel rearrangements are possible, and Esther Pierce will be another replacement for cryptocurrencies, the research report published on Wednesday says.

According to the Kanaccord, if these changes occurred in the SEC, this would benefit the entire industry, and in particular Coinbase (Coin) and Galaxy Digital (GLXY).

According to simple calculations on the calculator, in the case of the adoption of the Bitcoin law, and the implementation of the Trump plan to close half the US public debt with cryptocurrencies, the price of bitcoin should reach $ 5 million per 1 BTC.