Lummis’ bold proposal for Bitcoin acquisition: Cynthia Lummis suggests the U.S. Government purchase 1 million Bitcoin to establish a reserve. This acquisition aims for a long-term strategy, holding it for at least 20 years to strengthen the U.S.’s position in digital assets.

Market reactions and Bitcoin volatility: Crypto analyst Ben Simpson anticipates an initial price pump for Bitcoin if the proposal advances, followed by expected price stabilization. He notes the importance of this potential acquisition in affecting market sentiment.

Institutional interest and Bitcoin’s future: Despite a decline in Bitcoin’s dominance to 56.63%, it remains key to institutional investments. Analysts predict a price target of 180,000 USD for Bitcoin in this cycle, highlighting strong demand and potential for new bull market phases.