Asset manager CoinShares believes that the adoption of the Bitcoin Act by Donald Trump's administration would be a positive development for the cryptocurrency industry. The act proposes establishing bitcoin as a strategic reserve asset, with the US government acquiring up to 5% of bitcoin's total supply. This would give bitcoin a similar reserve status as gold and lead to significant governmental and institutional interest in the cryptocurrency. CoinShares suggests that such legislation could drive institutional and governmental interest in bitcoin, potentially accelerating its growth and value. Additionally, the broker Canacccord believes that changes in the Securities and Exchange Commission's approach to crypto, along with the passage of a crypto-industry regulatory framework, could lead to wider adoption of digital assets by mainstream financial services.
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