US Bitcoin reserve asset bill could pass in Donald Trump’s first 100 days – Senator Cynthia Lummis

The proposed legislation seeks to position the US as the largest government Bitcoin holder, echoing its gold reserve status.

Nov 12, 2024

Happy Tuesday!

In today’s CryptoSlate newsletter, we highlight some of the most intriguing developments in the cryptocurrency sector: Senator Cynthia Lummis is hopeful that a proposed bill to create a U.S. Bitcoin reserve asset could be enacted within Donald Trump’s first 100 days, positioning the U.S. as the largest government holder of Bitcoin, much like its gold reserves. In another exciting update, the PEAQ token is gaining traction with its recent launch on 12 crypto exchanges, aimed at advancing decentralized physical infrastructure networks (DePIN) and democratizing the machine economy. Additionally, a recent survey reveals that over 30% of hedge funds and venture capital firms expect Solana (SOL) to reach $600 this cycle, signaling robust market confidence in its future. Stay tuned for more insights on these key topics!

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The global crypto market cap is $2.88 trillion, with a 24-hour volume of $370.44 billion. The price of Bitcoin is $86,016.86, and BTC market dominance is 59.3%. The price of Ethereum is $3,229.24, and ETH market dominance is 13.5%. The best-performing sector is Media, which gained 7%. The Crypto Fear & Greed Index is currently Greed (80).

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