$BTC Gets A Push, Thanks To Enthusiasts
A group of prominent crypto industry leaders, including Michael Saylor of Strategy and Charles Hoskinson of Cardano, is meeting with U.S. lawmakers to advocate for the BITCOIN Act.
The proposed bill, introduced by Senator Cynthia Lummis and Representative Nick Begich, seeks to establish a strategic national Bitcoin reserve by having the government acquire one million bitcoins over five years.
The initiative is being presented as a way to bolster the nation’s financial security, similar to how the country’s gold reserves are managed. The bill proposes using “budget-neutral strategies” to acquire the bitcoin. While President Donald Trump has already signed an executive order to hold seized crypto assets in a government fund, this new legislation aims to expand that idea, turning Bitcoin from seized property into a deliberately accumulated reserve asset.
Currently, the bill has only received support from Republican lawmakers. For it to move forward, it will need bipartisan backing and formal hearings in the House and Senate.
Industry advocates, however, are framing the proposal as a long-term national security and economic issue rather than a partisan one.
Strategy’s Bitcoin Holdings Surpass $73 Billion
Strategy, a business intelligence firm, has expanded its Bitcoin treasury, bringing its total holdings to more than $73 billion.
The company, co-founded by Michael Saylor, recently purchased an additional 525 BTC for approximately $60 million.
This latest acquisition is part of the company’s long-term strategy, which began in August 2020, to use Bitcoin as a hedge against inflation.
London Stock Exchange Launches Blockchain Platform
The London Stock Exchange Group (LSEG) has become the first major global exchange to launch a blockchain-based platform for private funds.
The new platform, called Digital Markets Infrastructure (DMI), was developed in partnership with Microsoft and runs on Microsoft Azure.
DMI is designed to handle the entire lifecycle of digital assets, from creation to settlement, and aims to provide interoperability between traditional financial systems and distributed ledger technology.
While private funds are the first assets to be used on the platform, LSEG plans to expand to other asset classes in the future.
