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U.S. Senator Cynthia Lummis recently stated that President Trump supports the proposal to purchase 1 million Bitcoins. This statement has garnered widespread attention from the cryptocurrency community.
The bill proposes that the U.S. government establish a Bitcoin strategic reserve, totaling one million coins. If passed, this would be a significant step for the U.S. to hold official reserves and also reflects the growing recognition of Bitcoin as an asset allocation option within the U.S. political sphere.
From a macro perspective, official policy support is correlated with the acceptance of crypto assets. Regardless of how it ultimately progresses, such policy signals are worth close market attention.