CoinShares: Trump's biggest boost for cryptocurrency will be through the Bitcoin bill

2024-11-07 18:01:27

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ChainCatcher news, according to Coindesk, CoinShares stated in a research blog on Wednesday that the Donald Trump administration may provide a more favorable environment for cryptocurrencies, with one of the most anticipated developments being the potential passage of the "Bitcoin Bill."

CoinShares' Head of Research James Butterfill wrote, "The proposal would establish Bitcoin as a strategic reserve asset, with the U.S. government acquiring 5% of the total Bitcoin supply. This would give Bitcoin a status similar to that of gold." The report noted that after gaining recognized status in national reserves, Bitcoin would also achieve greater legitimacy.

CoinShares pointed out that Trump has consistently criticized the U.S. Securities and Exchange Commission (SEC) and its chairman Gary Gensler, particularly regarding the agency's stance on cryptocurrencies. His administration is expected to appoint new SEC leadership, which could lead to a period of more favorable regulation for cryptocurrencies.

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