Latest Developments in U.S. Congressional Bitcoin Strategic Reserve 🚀

The U.S. Congress held a meeting on September 17 regarding the advancement of the Bitcoin strategic reserve, attended by several Republican lawmakers and industry giants such as MicroStrategy founder Michael Saylor. The meeting focused on the "BITCOIN Act," which is being promoted by Senator Cynthia Lummis, aiming for the U.S. government to purchase 1 million bitcoins over the next 5 years and regard them as a national strategic reserve asset on par with gold.

Key Highlights

- Impressive Purchase Scale: Purchasing 1 million bitcoins over 5 years will account for nearly 5% of the global total supply, marking a national-level reserve.

- Bipartisan Support: Participants reached a strong consensus, demonstrating the powerful political momentum behind the strategic reserve.

- Veteran Industry Support: Heavyweights like Michael Saylor provide professional backing to push for policy implementation.

- Budget Neutral Design: The plan proposes to fund through the revaluation of gold assets and utilizing tariff revenue, without the need for new taxes or debt.

Global Impact

If the U.S. takes the lead in establishing a Bitcoin strategic reserve, it may prompt major global economies to follow suit, redefining the international monetary ecosystem. Compared to Germany selling all its gold and Japan's wait-and-see approach, the U.S. is clearly ahead in its positioning, echoing its core status in global finance.

Market Outlook

The Congress's significant purchasing plan will greatly tighten the market's circulating supply, and long-term holding will drive up Bitcoin prices. Combined with the halving mechanism and continuous institutional accumulation, a super bull market cycle for Bitcoin is highly likely to begin in the future.

Conclusion

This is a watershed event in Bitcoin's history, marking its transition from a fringe asset to a national strategic asset. Investors should closely monitor legislative progress, as each step may bring a continuous upward momentum for Bitcoin prices.

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