The National Bitcoin Reserve Bill is Officially Introduced

TL; DR

• Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally submitted a bill on Wednesday to the US Senate to ascertain a nationwide Bitcoin reserve, which is able to present each short- and long-term advantages.

Full story

Let’s finish this week with some information that would influence the crypto world, each within the quick and long run.

Senator Cynthia Lummis (aka the ‘Bitcoin Senator’) formally submitted a bill to the US Senate on Wednesday with the intention of building a nationwide Bitcoin reserve.

She announced the bill for the first time at Bitcoin 2024 in Nashville final weekend, but it surely wasn’t formally launched till Wednesday.

Here is why that is thrilling within the quick time period:

Two phrases: market sentiment.

Whereas there may be nonetheless a protracted technique to go earlier than the invoice is definitely handed and carried out, the mere introduction of the invoice ought to have a constructive influence on investor confidence round Bitcoin.

(And as we all know BTC goes up >> every part goes up 🚀)

And in the long run:

If handed (which might be monumental for BTC), it will actually result in wider adoption of crypto generally, and produce us nearer to a world the place crypto is simply one other a part of the mainstream monetary system.

(I am unsure if that is what each crypto genius needs, however it’ll actually occur).

Likelihood is it is also a bout of it different international locations which might be additionally creating BTC reserves, creating way more shopping for strain available on the market.

No matter time-frame you take a look at this in, it is large information.

Now all we have now to do is overview the invoice, debate it, vote on it in each the Home of Representatives and the Senate, and signal it into regulation by the President.

Easy 🙃