ChainCatcher news, Trump signed an executive order in early March this year proposing the establishment of a national-level Bitcoin reserve and strategic reserves for other tokens, and requested the Secretary of the Treasury to submit an assessment report on the legal and investment feasibility of the plan within 60 days. With less than two weeks remaining until the 60-day deadline set by Trump's executive order, this means that more details about the U.S. Bitcoin reserve are about to be disclosed. The market's anticipation of this matter may be one of the important catalysts for the recent rebound in crypto assets. Additionally, any remarks questioning the independence of the Federal Reserve have also had a positive spillover effect on Bitcoin.

ChainCatcher message, Zhao Changpeng forwarded Lummis's tweet about being appointed as the chair of the U.S. Senate Banking Committee on Digital Assets, stating: "The U.S. strategic Bitcoin reserve is almost confirmed. Cryptocurrency is moving forward at crypto speed again."

ChainCatcher news, according to Bitcoin.com, payment company Strike CEO Jack Mallers stated on the Timcast show that Trump may establish a U.S. strategic Bitcoin reserve through an executive order on his first day in office. Mallers mentioned that based on the broad powers granted to the president by the "Dollar Stability Act" to protect the dollar, the Trump team is considering establishing a reserve that is "significant but not reaching 1 million Bitcoins."Previously, U.S. Senator Cynthia Lummis proposed the "2024 Bitcoin Act," which suggests that the Federal Reserve and the Treasury purchase 200,000 Bitcoins annually over five years, accumulating a total of 1 million Bitcoins, which would account for about 5% of the global Bitcoin supply. Trump himself indicated to CNBC last week while ringing the bell at the New York Stock Exchange that "we will do some great things in the cryptocurrency space," and he is positive about establishing a Bitcoin reserve plan similar to the strategic petroleum reserve.

ChainCatcher news, according to DL News, the possibility of Trump creating a national Bitcoin reserve is a major factor driving the cryptocurrency market to new heights. Currently, the momentum for a strategic Bitcoin reserve in the U.S. is penetrating to the state level, such as:Florida is taking steps to establish a strategic Bitcoin reserve as early as the first quarter of 2025;Pennsylvania is also drafting its own Bitcoin strategic reserve bill, which is expected to invest 10% of the state's general fund in Bitcoin when it is introduced in November;The goal of Florida and Pennsylvania is to directly purchase Bitcoin, while other states like Michigan and Wisconsin have chosen a more conservative route, investing in Bitcoin-related ETFs and trust funds:SEC filings show that as of September, Michigan holds $11 million in ARK 21Shares Bitcoin ETF;The Wisconsin Investment Board holds over $220 million in Grayscale and BlackRock Bitcoin ETF shares.

ChainCatcher news, WisdomTree recently released a report indicating that in January 2024, the approval of a spot Bitcoin ETF could drive Bitcoin prices to soar to $70,000, but regulatory resistance and profit-taking could lead Bitcoin to remain in a consolidation phase for most of the year.Recently, Trump's election victory has propelled Bitcoin to new highs, even breaking through $90,000, indicating that under the new government's leadership, the momentum for pro-cryptocurrency policies may strengthen. Additionally, the proposed Bitcoin bill aimed at establishing a strategic Bitcoin reserve in the U.S. could change market dynamics and regulatory landscapes, although debates surrounding its scale and fiscal impact still persist.The report concludes that we do not know whether the Bitcoin bill (or a bill fundamentally similar to it) will become policy. However, it is beneficial to consider potential policies from this perspective rather than overly focusing on the changes that may occur with different government personnel.On July 27, 2024, elected President Trump took the stage at the Bitcoin 2024 conference held in Nashville, Tennessee, which in itself indicates a stance. We are now waiting for some signals to show how this campaign will translate into government policies that support the Bitcoin community.