Asset manager CoinShares Announces Donald Trump’s Biggest Favor to the Crypto Industry!

asset manager CoinShares In a statement, Donald Trump’s administration crypto para will provide a more positive environment for its units and that one of the most anticipated developments will be Bitcoin Law He said there was possible acceptance.

Trump’s Biggest Blessing to Crypto Will Be Passing the Bitcoin Law

The report stated that under the proposal, Bitcoin would be established as a strategic reserve asset and the government could purchase up to 5% of the total supply of the cryptocurrency.

“This proposal would establish Bitcoin as a strategic reserve asset, with the US government purchasing up to 5% of Bitcoin’s total supply,” wrote James Butterfill, director of research at CoinShares.

This would give the original cryptocurrency, Bitcoin (BTC), a role similar to gold. The report also stated that with a recognized position within the national reserve, it would gain greater legitimacy.

U.S. Senator Cynthia Lummis introduced a bill earlier this year calling for the establishment of a strategic Bitcoin reserve to reduce the country’s national debt by purchasing 1 million BTC over five years.

The bill, titled the Enhancing Innovation, Technology and Competitiveness through Nationwide Optimized Investment (BITCOIN) Act, was introduced to the Senate in July.

President-elect Trump promised to create a Bitcoin reserve ahead of the election and reiterated that plan in X following the Lummis victory.

“If implemented, the Bitcoin Act could increase institutional and government interest in bitcoin, potentially accelerating its growth and pushing its value to new highs,” Butterfill wrote.

CoinShares noted that Trump criticized the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, specifically regarding the agency’s approach to crypto. The administration is expected to appoint new SEC leaders, which could lead to a more crypto-friendly regulatory era.

*This is not investment advice.