Former President Donald Trump, a sitting U.S. senator and some of the biggest names in bitcoin {{BTC}} investing all seem to agree that the U.S. should begin building a reserve of the most prominent crypto token. But concrete details are few, and it's not an idea that's likely to be executed anytime soon.
Senator Cynthia Lummis proposes legislation to add Bitcoin as a strategic reserve asset for the Fed, potentially transforming its role in U.S. monetary policy. Meanwhile, the market for Ethereum ETFs shows mixed signals with significant inflows and outflows, and users from the 2014 Mt. Gox hack are seeing massive returns due to Bitcoin’s skyrocketing value.
Bitcoin briefly topped $71,000 early Monday, riding high on the optimism from the Bitcoin 2024 conference in Nashville over the weekend, before giving up those gains.
