🔥CoinShares: The enactment of the US Bitcoin Act will have a profound impact on adoption 🔥
🧧PANews reported on January 11 that according to Cointelegraph, crypto research institution CoinShares said in a blog post that the establishment of a reserve bank in the United States would accelerate the adoption of Bitcoin even faster than the launch of exchange-traded funds (ETFs) in 2024. In 2024, U.S. lawmakers proposed the Bitcoin Act, which would instruct the U.S. Treasury to purchase 1 million BTC within 5 years to establish a "strategic Bitcoin reserve." President-elect Donald Trump approved the plan, but it has not yet been passed into law.
CoinShares said: "We believe that the enactment of the US Bitcoin Act will have a more profound long-term impact on Bitcoin than the launch of an ETF." CoinShares said that "multiple interactions with institutional clients" showed that Bitcoin's "reputation" as an asset class is still the main obstacle to institutional adoption of BTC. Passing the Bitcoin Act "will effectively grant Bitcoin the backing of the world's largest government," thereby "significantly reducing the stigma faced by institutional investors."