With his 2024 election win seeing the country get its first pro-crypto president, one senator believes that Donald Trump could pass a Bitcoin strategic reserve bill in his first 100 days back in the White House. Indeed, there is the expectation that crypto integration could be among the most important things Trump does at the start of his second term.
Much of his campaign revolved around Bitcoin and the protection of cryptocurrencies in the US. Trump had not been shy about his belief in the assets and their importance to the future of global economics. Now, he could make good on those promises in the early stages of his upcoming presidency.
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Senator Says Trump’s Bitcoin Reserve Bill Could Be Approved In His First 100 Days
Since the 2024 US presidential election results, Bitcoin has been skyrocketing in value. The asset reached an all-time high in March of $73,000. However, its recent performance is a far cry from that record. Indeed, the token is currently up more than 25% over the last seven days, according to CoinMarketCap, and has already set an all-time high above the $89,000 mark.
This could fuel how quickly the president-elect chooses to integrate the asset class into his politics. According to one senator, it could be sooner than many expect. Indeed, Cynthia Lummis has said that Donald Trump could pass his Bitcoin reserve bill within the first 100 days of his second term.
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“I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people,” Lummis said in a post to X (formerly Twitter). “It is a game changer for the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act!”
The legislation was first introduced by Lummis in July. Moreover, it would seek to use capital from the Federal Reserve and Treasury to purchase one million Bitcoins. That move would then make the US the largest government holder of Bitcoin on the planet. Specifically, they would hold 5% of the entire network supply. That figure would mirror the country’s current stake in the world’s gold reserves.