Senator Cynthia Lummis has proposed a Bitcoin sovereign wealth fund, gaining significant backing, including from President Trump. The US Senate constituted its first subcommittee focusing on cryptocurrencies, addressing regulatory matters and aiming for a three-point agenda to foster responsible innovation in the crypto space.
Following the announcement, Bitcoin’s value saw fluctuations, initially dropping to 102,400 USD before partially recovering to near 105,000 USD. The growing accumulation by Bitcoin whales indicates positive investor sentiment and anticipation of policy changes.