Senator Cynthia Lummis has a plan. In a sweeping move that would upend the U.S. financial status quo, the Wyoming Republican wants the Federal Reserve to trade part of its gold stash for Bitcoin.

Bitcoin (BTC) recently made headlines by briefly surpassing silver to become the eighth-largest global asset by market capitalization. This milestone highlights the growing recognition of Bitcoin as a serious contender in the global asset hierarchy, attracting the attention of both traditional investors and analysts alike.

According to a latest Bloomberg report, Republican Senator Cynthia Lummis of Wyoming has proposed to sell a part of the Federal Reserve's gold holdings to purchase one million Bitcoins for the creation of a strategic bitcoin reserve.

Bitcoin is on a blistering run. But if analysts are to be believed, this is only the beginning.

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

Historically, gold and the U.S. dollar are the strongest “safe-haven” contenders during Bitcoin or general market crashes.

Many leveraged positions appear to be in jeopardy due to Bitcoin‘s recent price rally, which has formed new liquidation levels along the way. As the crypto asset continues to demonstrate potential for upward movement, investors are advised to proceed cautiously and reassess their positions to avoid substantial losses.

Crypto analyst Miles Deutscher has pointed to a promising technical setup in TOTAL3, fueling speculation that the altcoin season cycle may close. The analyst comments come as the broader crypto market sees a notable bounce, with Bitcoin (BTC) briefly crossing $93,000 and several altcoins showing strong gains.

President-elect Donald Trump's proposal to establish a national Bitcoin (CRYPTO: BTC) reserve has sparked a wave of support across the United States, with Pennsylvania leading the charge by considering its own state-held cryptocurrency reserve. What Happened: This movement aligns with Trump's promise to make the U.S. the "crypto capital of the planet" and has fueled legislative efforts to recognize Bitcoin as a secure state asset, FOX Business reports.

Two Pennsylvania lawmakers have co-sponsored a bill pushing for the state to create a "strategic bitcoin reserve."

An ancient Bitcoin (BTC) wallet suddenly sprung to life this week after 13 years of dormancy, according to the crypto tracker Lookonchain. Lookonchain notes the unknown address received 426.3 BTC on July 29th, 2011, when the price of BTC was only $13.49, meaning the wallet's entire trove was worth $5,753.

As President-elect Donald Trump prepares to take office again in January, his proposal to create a national Bitcoin reserve is gaining momentum across the United States. Several states are now reportedly considering plans to establish their own cryptocurrency reserves, reflecting a broader movement to recognize Bitcoin as a legitimate store of value.

Bitcoin (BTC) continues to make headlines in the cryptocurrency world, a bold prediction from Arthur Hayes, the co-founder of BitMEX, is capturing the attention of investors and analysts alike. In a new essay titled “Black or White?

Republican Senator Cynthia Lummis of Wyoming is proposing a plan to sell part of the Federal Reserve's gold holdings to fund the purchase of one million Bitcoin for a national strategic reserve. Cynthia Lummis, an ally of President-elect Donald Trump, introduced this concept as a way to increase federal Bitcoin holdings without adding to the

In the rapidly shifting cryptocurrency world, Bhutan is steadily establishing its footprint with a unique and calculated approach to digital assets. This small Himalayan nation recently caught the attention of crypto-watchers worldwide when it deposited 365 Bitcoin (BTC), valued at approximately $33.31 million, into Binance, the world's largest cryptocurrency exchange.

The head of digital assets research at exchange-traded fund (ETF) provider VanEck believes Bitcoin (BTC) is heading even higher this cycle after putting up massive gains. In a new interview on CNBC's Squawk Box, VanEck executive Matthew Sigel says that Bitcoin may soar more than 102% from its current value. “We think it's just started.

With Bitcoin closing in on $100K, Saylor's celebration plans highlight the crypto asset's growing influence.

Analysts speculate why Bitcoin is bound for $100,000 soon.

The Pennsylvania House of Representatives has drafted a bill to add a strategic Bitcoin reserve for the state. The bill has been presented by Republican Representative Mike Cabell, and this bill seeks to permit the treasury of Pennsylvania to invest up to 10% of its funds in Bitcoin.

Steve Weiss, founder and managing partner at Short Hills Capital Partners, joins CNBC's “Halftime Report” to discuss why he is buying Bitcoin.

Matthew Sigel, Head of Digital Assets Research at VanEck, one of the spot Bitcoin ETF issuers, on Thursday projected Bitcoin (CRYPTO: BTC) to hit $180,000 in this market cycle, driven by strong government support and increasing institutional interest. What Happened: As Bitcoin recently surged past $93,000, Sigel said, “We think it's just getting started,” highlighting that the current administration's pro-Bitcoin stance has created “blue sky territory” for the cryptocurrency.

Key Points:

As housing prices soar beyond reach for young generations, Bitcoin emerges as the ultimate savings tool, turning the dream of homeownership into a tangible reality. Could a single Bitcoin buy you a house in the near future? The answer may surprise you.

The Bitcoin price (BTC) has continued its upward trend and reached a high of $93,318 on November 13.

Key Points:

Pennsylvania's legislature has introduced a bill allowing the state to invest in Bitcoin.

Bitwise CEO Matt Hougan is of the opinion that for Bitcoin to mature, it must capture a portion of gold's market share.

How covenants can built on Bitcoin today with no softforks (for an outrageously expensive set up price) using hash collisions. By Andrew Poelstra from Blockstream.

Ethereum's recent price movement has shown a decline following a rally, even after ETH Whales made a comeback and Bitcoin reached a new all-time high.

Bitcoin is down to $88,000 after reaching its ATH at $93,000 a day before. Bitcoin has had a bullish momentum after the 2024 presidential results, and it is up 35% in the past month.

The cryptocurrency market has been experiencing heightened volatility in recent days, with Bitcoin (BTC) leading the charge. As Bitcoin surged past the $80,000 mark, a wave of liquidations swept across the market, pushing the total value of crypto liquidations to over $800 million.

This new website offers a quick resource that shows just how fast everything is depreciating against Bitcoin.

President-elect Donald Trump's proposal to create a national bitcoin reserve is gaining popularity across the country as several states are now considering implementing their own cryptocurrency reserves.

Deribit options open interest has hit an all-time high of $40.8 billion, driven by surging institutional and retail interest in crypto options.

I see MicroStrategy's Bitcoin edge disappearing for other firms—this corporate treasury strategy becomes less effective as adoption accelerates.

Pennsylvania legislators have introduced a major bill today that could see the state hold Bitcoin as part of its financial strategy.

Time is running out.

The Pennsylvania House seeks to establish Bitcoin as a strategic reserve, aiming to hedge inflation and diversify state treasury assets. The post Pennsylvania House moves to establish Bitcoin as a strategic reserve asset appeared first on Crypto Briefing.

The proposed legislation would allow the State of Pennsylvania's Treasurer to invest up to 10% of its funds in Bitcoin, suggesting a multibillion-dollar investment.

Jersey City's pension fund plans to buy bitcoin ETFs in the coming weeks after starting the process to allocate to such products earlier this year.

The Kingdom of Bhutan's Bitcoin (BTC) strategy may shift after the country moved a significant portion of its holdings to Binance.

DeFi Technologies is driving a new strategy that will involve both Bitcoin and CORE token.

Crypto analyst Jamie Coutts cautioned traders to "be careful" when margin trading Bitcoin, given the growing strength of the US dollar.

Joe Moglia, former CEO of TD Ameritrade, on Thursday asserted that Bitcoin (CRYPTO: BTC) is a permanent fixture in the financial landscape, with substantial growth prospects ahead. What Happened: Speaking with CNBC, Moglia emphasized that while several years ago the concept of cryptocurrency was widely dismissed by traditional finance, the current sentiment reflects a remarkable shift.

VanEck, an asset manager worth $100 Billion said that its Bitcoin price target for this cycle is $180k. On Wednesday, Bitcoin pumped to $93,000 hitting its all-time high with a continuous surge after Trump's win.

US President-elect Donald Trump is continuing to shape his administration with pro-crypto figures by nominating Bitcoin-friendly Congressman Matt Gaetz as Attorney General. On Nov. 13, Trump announced that he was picking Gaetz to focus on dismantling government weaponization, securing borders, curbing criminal organizations, and restoring public trust in the Justice Department.

Stacks' price action has closely mirrored Bitcoin's performance in recent months, boasting an impressive correlation coefficient of 0.86. This makes Stacks a high-beta play on Bitcoin, meaning that when Bitcoin moves, STX tends to move in a similar direction, albeit with more volatility and often at a greater magnitude.

Optimism that President-elect Trump will fulfill his promises to make the U.S. the "crypto capital of the planet" and bitcoin a "permanent national asset" has made its price surge.