US Bitcoin reserve would have ‘profound’ impact on adoption: CoinShares
The Bitcoin Act’s passage could eventually send BTC’s price past $1 million per coin, industry executives say.
Establishing a strategic Bitcoin (BTC) reserve in the United States would accelerate Bitcoin’s adoption even more than 2024’s exchange-traded fund (ETF) launches, cryptocurrency researcher CoinShares said in a Jan. 10 blog post.
In 2024, US lawmakers proposed the Bitcoin Act, which would direct the US Treasury Department to create a “strategic Bitcoin reserve” by purchasing 1 million BTC over a 5-year period. President-elect Donald Trump endorsed the plan, which has not yet been passed into law.
“We believe that the enactment of the Bitcoin Act in the United States would have a more profound long-term impact on Bitcoin than the launch of ETFs,” CoinShares said.
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Author: Alex O’Donnell
