The bitcoin rate is breaking records. All because Trump wants to make cryptocurrency part of the US state asset

⚡️ Updated. The bitcoin cryptocurrency rate on the Binance exchange on the afternoon of November 13 exceeded 90 thousand dollars. According to Binance, the value of the cryptocurrency reached $91,000, after which Bitcoin continued to grow.

Bitcoin began to actively rise in price against the backdrop of the US presidential election and expectations of the victory of Donald Trump, who supports cryptocurrencies. On the night of the vote count in the United States, the bitcoin rate overcame the mark of 75 thousand dollars for the first time.

On the fifth day after Trump's victory, the value of the cryptocurrency updated its all-time high, having reached In the afternoon of November 10, the mark of 80 thousand dollars.

What is the Bitcoin Act in the United States?

The bill was first introduced by Republican Senator Cynthia Lummis of Wyoming at the Bitcoin 2024 conference in Nashville on July 27. Trump also voiced the idea of using cryptocurrencies confiscated during criminal investigations to create a strategic reserve. Against the backdrop of these speeches by politicians, the bitcoin rate then updated its local maximum in 1.5 months.

In short, the Bitcoin Act in the United States is the legitimization of cryptocurrencies, as well as their inclusion (in particular, bitcoin) in the US state reserves.

At the moment, the draft "Bitcoin Act" in the United States is under discussion and involves consolidating the status of bitcoin as a state asset, similar to gold. This law, according to CoinShares analysts, is designed to legitimize cryptocurrency by including it in state reserves, which will strengthen its position in financial markets. Support for such a law under the Donald Trump administration could spur a significant increase in the value of bitcoin and strengthen the U.S. position as a leader in the cryptocurrency sphere.

CoinShares analysts suggest that the adoption of the Bitcoin Act in the United States could raise the status of bitcoin, making it part of the state reserve, like gold. Such a move could confirm the legitimacy of bitcoin and provoke a significant increase in its value.

What are the US plans for Bitcoin?

After Trump's victory in the US presidential election on November 5, the author of the bill, Republican Senator from Wyoming Cynthia Lummis, recalled this initiative: "We are going to create a strategic reserve of bitcoins," the senator wrote on social network X.

According to Lummies' plan, the state will buy up to 200 thousand bitcoins per year for five years in order to accumulate 1 million bitcoins. According to her calculations, this will benefit the American monetary system and help maintain a stable dollar exchange rate. In particular, the US national debt can be halved by 2045.

Republican Cynthia Lummis, who is promoting the "Bitcoin Act," is seeking to enlist the support of her colleagues on the banking committee to make bitcoin part of the U.S. government's reserves. This could provoke institutional interest and fuel demand for bitcoin, driving up its value even higher.

Against the backdrop of Trump's victory, the rate has already updated the maximum, and he promises to make the United States a global crypto center and support mining.

In the long term, experts predict a possible decrease in the attractiveness of gold due to the flow of funds into bitcoin.

And what's next?

If such a law is passed, it will be a significant step towards the legalization of bitcoin and the entire cryptocurrency sphere, especially in the United States.

This could stimulate the interest of institutional investors, which will increase confidence in bitcoin as a store of value and a possible alternative to gold. The law could strengthen the U.S. position as a leader in the cryptocurrency market, especially if Trump fulfills promises to create a "crypto capital" and support miners' rights.

In this case, bitcoin can really reach new price highs and change the financial landscape.