Bitcoin As America’s Gold? Trump’s Bitcoin Act Could Reshape US Reserves, Says CoinShares

The proposed Bitcoin (CRYPTO: BTC) Act, if passed by the Trump administration, could significantly elevate the apex crypto’s role within the U.S. economy, according to a new CoinShares report.

The act would designate Bitcoin as a strategic reserve asset, permitting the U.S. government to acquire up to 5% of its total supply, treating it similarly to gold.

What Happened: CoinShares analysts argue that such a move would lend Bitcoin historic legitimacy and drive institutional interest, potentially accelerating its growth and pushing its value to unprecedented levels.

On Nov. 6, Bitcoin reached a record high of $76,243, with the crypto community eyeing continued bullish momentum as the policy landscape shifts, following Donald Trump’s victory in the presidential election.

“The Bitcoin Act would be a major turning point,” noted James Butterfill, head of CoinShares Research. “Treating Bitcoin as a strategic reserve would cement its position as a legitimate …

Full story available on Benzinga.com