The US plans to create a state cryptocurrency reserve

Cryptopolitian, a digital assets media outlet, reports that US lawmakers have turned to cryptocurrency experts to help push forward a legislative plan to create a strategic bitcoin reserve BTC $98,651.85 Bitcoin -0.04% Market capitalization $1.95 trillion VOL. 24 hours $4.22 billion .

After winning the election, Donald Trump reaffirmed his promises to the crypto community to create a bitcoin reserve in the United States, which he made at the Bitcoin 2024 conference in Nashville. At the same time, the politician said that on the first day he would fire Securities and Exchange Commission Chairman Gary Genslerand put an end to policies that prevent crypto investors and companies from using digital assets. The former US president then promised to implement a complete transformation of US policy on bitcoin and cryptocurrencies if he is re-elected.

Dennis Porter, CEO of the Satoshi Act Fund, said that several lawmakers have already turned to him for advice. Among them are representatives from Michigan, Florida, and Utah. In addition, Wyoming Senator Cynthia Lummis noted that the Trump administration is committed to the plan to create a reserve.

A strategic bitcoin reserve means that the US Federal Reserve will actively invest in bitcoin as part of its reserves. If this plan is implemented, it could lead to an increase in trading volumes and higher prices in the cryptocurrency market.

Currently, the United States has the largest bitcoin reserves among the world’s governments — 208,109 BTC, worth about $ 15.81 billion.