#The US Bitcoin Bill Will Have a Profound Impact#

The enactment of the US "Bitcoin Act" will have a profound impact on the Bitcoin market, a view endorsed by cryptocurrency research firm CoinShares. They believe the act will instruct the US Treasury to purchase 1 million Bitcoin over five years, establishing a "strategic Bitcoin reserve," which will accelerate Bitcoin adoption, even faster than the launch of exchange-traded funds (ETFs) in 2024. CoinShares argues that the US establishing a Bitcoin reserve bank will enhance Bitcoin's "credibility" as an asset class, thereby alleviating institutional investor concerns and driving institutional adoption. Industry executives even predict that the bill's passage could ultimately push Bitcoin's price above $1 million per coin. While the bill has yet to be passed into law, its potential impact has already sparked widespread attention and is considered to have a profound impact on the Bitcoin market.