Trump’s Bitcoin Reserve Vision Receives Strong Support Across Parties
07.11.2024 18:00 1 min. read Kostadin Dimitrov
Donald Trump's election as the 47th U.S. president has sparked renewed interest in creating a national Bitcoin reserve.
Trump plans to make Bitcoin a cornerstone of the country’s economic recovery, with the initiative set to begin after his inauguration on January 20.
Senator Cynthia Lummis has been a leading advocate for this initiative, introducing legislation for a strategic Bitcoin reserve on July 31. Lummis sees Bitcoin as essential to securing the U.S. economy’s future and reinforcing the country’s global financial leadership.
She and Trump both highlighted Bitcoin’s potential at the 2024 Bitcoin National Conference, and Lummis reaffirmed her commitment to the plan, declaring, “We are going to build a strategic Bitcoin reserve.”
The proposal aims to acquire one million BTC—about 5% of the total supply—by utilizing funds from the Federal Reserve and Treasury. It includes decentralized Bitcoin vaults managed by the Treasury, a Bitcoin purchase program, and protections for self-custody rights.
The initiative has gained bipartisan support, with Democratic Representative Ro Khanna also backing the plan, urging the Federal Reserve to accept Bitcoin as a reserve asset and pushing for the Democratic Party to adopt pro-crypto policies.
-
1
Bitcoin Mining Faces Uncertainty as Tariffs Threaten Supply Chains
03.04.2025 20:45 2 min. read -
2
Lomond School Becomes First in UK to Accept Bitcoin for Tuition Payments
12.04.2025 11:00 1 min. read -
3
Bitcoin Bull Cycle Ends as Market Shifts to Bearish Trend, According to CryptoQuant
06.04.2025 19:00 2 min. read -
4
Crypto Strategist Sees Bullish Potential for Bitcoin Despite Bearish Trend
07.04.2025 16:00 1 min. read -
5
Bitcoin Startup Funding Soars, But Capital Inflows Remain Limited
05.04.2025 13:59 2 min. read
U.S State of Arizona Moves Closer to Making Bitcoin Part of State Investments
Bitcoin could soon play an official role in Arizona’s public finance system. This week, state lawmakers approved the Arizona Strategic Bitcoin Reserve Act, a bill that would allow up to 10% of treasury and retirement fund assets to be invested in digital assets like Bitcoin.
BlackRock Buys Nearly $1 Billion in Bitcoin
Institutional hunger for Bitcoin is accelerating — and BlackRock is leading the charge.
Institutional Demand Fuels Bitcoin Optimism as $210K Target Looms
Despite a rocky year for global markets, Presto’s head of research, Peter Chung, remains unfazed about Bitcoin’s long-term potential.
Bitcoin Rally Gains Steam as Analyst Points to $103K Milestone
Bitcoin started the week strong, climbing past $94,000 and nearing the $95,000 mark, just as the market braces for important U.S. economic data.
-
1
Bitcoin Mining Faces Uncertainty as Tariffs Threaten Supply Chains
03.04.2025 20:45 2 min. read -
2
Lomond School Becomes First in UK to Accept Bitcoin for Tuition Payments
12.04.2025 11:00 1 min. read -
3
Bitcoin Bull Cycle Ends as Market Shifts to Bearish Trend, According to CryptoQuant
06.04.2025 19:00 2 min. read -
4
Crypto Strategist Sees Bullish Potential for Bitcoin Despite Bearish Trend
07.04.2025 16:00 1 min. read -
5
Bitcoin Startup Funding Soars, But Capital Inflows Remain Limited
05.04.2025 13:59 2 min. read
