US Bitcoin reserve would have ‘profound’ impact on adoption: CoinShares
Establishing a strategic Bitcoin reserve in the U.S. could enhance Bitcoin adoption more significantly than upcoming ETF launches, according to CoinShares. The proposed Bitcoin Act aims for the U.S. Treasury to acquire 1 million BTC over five years, with support from President-elect Donald Trump. CoinShares emphasizes that this act would improve Bitcoin's credibility among institutional investors, reducing existing stigma. The act has gained momentum following the November elections, where Trump's party secured Senate control. Several states are also considering BTC reserve bills. The approval of multiple spot BTC ETFs in January 2024 has led to increased institutional interest, with projections of $48 billion in net inflows by 2025. Analysts predict that passing the Bitcoin Act could drive BTC prices past $1 million, encouraging further asset flow into Bitcoin globally.
