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Bitcoin bill gains support, thousands push US senators to back it

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3 months ago

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U.S. citizens are backing a bill to create a Strategic Bitcoin Reserve following remarks from former President Donald Trump and Wyoming Senator Cynthia Lummis.

According to Bitcoin (BTC) proponent Dennis Porter, nearly 3,000 U.S. constituents requested Senatorial support for a “Strategic Bitcoin Reserve” bill. 

Porter highlighted that Democratic Senators received the lion’s share of letters from Americans, about 1,746 in number. The petitions to co-sponsor are likely in response to and support of Senator Lummis’s crypto legislation. 

Per crypto.news, Lummis announced the ‘‘Boosting Innovation Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024’’ or the BITCOIN Act. Lummis first disclosed the proposal at Bitcoin 2024 in Nashville, where the Wyoming Senator spoke on the same stage as Donald Trump. 

Echoing Trump’s suggestion to retain America’s BTC stockpile, Lummis also proposed buying 200,000 BTC annually. The Senator’s bill set a total acquisition of 1 million tokens to ensure the U.S. remains a global crypto leader.

If Lummis and Trump have their way, America will bolster its position as the largest geopolitical BTC owner. The U.S. already boasts a trove of over 200,000 BTC valued at more than $11 billion. Indeed, America controls nearly 3% of all BTC in circulation. Most of the holdings originated from crackdowns on Silk Road and other darknet marketplaces. 

Creating a strategic BTC reserve is still subject to Congressional approval and the outcome of this year’s presidential elections in November.

Although, there were speculations that the current administration disfavors the idea. Shortly after Trump’s Nashville speech, the U.S. government moved $2 billion in BTC to an unknown wallet.





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5 Crypto to Buy Now to Turn $100 to $100K During US Election 2024

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5 hours ago

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November 5, 2024

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The 2024 US election between Kamala Harris and Donald Trump has sparked interest among investors eyeing potentially high-yield cryptocurrencies. With heightened market attention, certain 5 crypto to buy to turn to $100 to $100k could experience significant gains due to increased trading volumes and speculative buying. 

5 Cryptos  to Buy to 100x by 2024 US Presidential Election

As the U.S. presidential election looms, crypto investors face heightened uncertainty. Bitcoin recently dropped to $68K, fueling global market concerns. With Ethereum and Solana also affected, investors watch closely for potential opportunities amid market fluctuations.

Bitcoin (BTC) Will Face Brunt of US Elections

Bitcoin (BTC) has become a hot topic in the upcoming US elections and has faced resistance since early October. Despite optimistic predictions from crypto analysts, BTC reached $69,000 only 15 days before the election. 

At the time of writing, the BTC price has been trading at $68,887, which is 95% in the past year. With substantial investment in fiat and crypto, Bitcoin remains the leading choice among cryptocurrencies. 

Presidential candidate Donald Trump envisions the U.S. as a Bitcoin capital, while Vice President Kamala Harris emphasizes prioritizing black men in Bitcoin investment. Bitcoin will continue to be the top crypto to buy in 2024.

Super Trump (STRUMP), a PolitFi Crypto 

Super Trump (STRUMP) has become a top choice for investors seeking political finance assets. Currently trading at $0.006341, STRUMP has surged 172% over the past year.

With its alignment with former President Donald Trump’s ideals of limited government control and economic freedom, STRUMP is gaining traction ahead of the U.S. election. Experts suggest it could bring strong returns, potentially turning $100 investments into substantial gains, making it a notable crypto to buy now. If the bulls return, the STRUM price could surge to $0.001 after the elections.

5 Crypto to Buy Now to Turn $100 to $100K During US Election 20245 Crypto to Buy Now to Turn $100 to $100K During US Election 2024
Source: TradingView

Doland Tremp (TREMP), Another PolitFi Crypto To Watch Ahead of US Elections

Super Doland Tremp (TREMP), a meme coin themed around political satire, has captured attention on the Solana blockchain. Modeled with humor referencing Donald Trump, TREMP has seen an impressive 146% surge since its launch. Currently priced at $0.3032, the token recently climbed another 4% in 24 hours, fueling investor interest.  Often compared to BODEN, another politically inspired coin, TREMP is seen as a “crypto to buy” during the U.S. 2024 election season.

The cryptocurrency Tremp (TREM) has recently experienced a notable fluctuation in its market trends. Data from Santiment reveals that TREM’s price saw a significant spike in early May 2024, followed by a gradual decline into mid-June. 

The downward trend persisted, showing limited recovery through July and August. However, late September and October brought heightened social activity, with social volume reaching unprecedented highs in early November, suggesting increased investor interest or speculation around the token.

5 Crypto to Buy Now to Turn $100 to $100K During US Election 20245 Crypto to Buy Now to Turn $100 to $100K During US Election 2024
Source- Santiment

Maga (MAGA)

Maga (MAGA), a cryptocurrency associated with the MAGA movement, currently ranks 276th among global digital assets. With a market cap of around $146 million, the asset has faced recent volatility, prompting investors to adjust their approaches. MAGA’s price has dipped to $3.32, reflecting a 2% decline over the past 24 hours. 

Since its launch, however, MAGA has surged by 19,936%, positioning it as a notable crypto to buy ahead of the 2024 U.S. election. The political climate could further drive interest in MAGA, making it a prominent choice among politically themed altcoins.

Maga (MAGA) currently shows 27.3% of its “In the Money” holdings, representing 12.83 million MAGA tokens. Meanwhile, 40.9%, or 19.22 million tokens, are “Out of the Money,” with 31.8% “At the Money.” This financial breakdown reveals varying profitability across MAGA holdings, reflecting its volatile trading environment.

US Election 2024US Election 2024
Source: IntoTheBlock

Sui (SUI)

Sui (SUI), a Layer 1 blockchain and smart contract platform, is gaining attention for its fast, secure, and private digital asset solutions. With a current Total Value Locked (TVL) of $984.33 million, Sui’s popularity is surging. 

The latest SUI price rose to $1.55, marking an impressive 4% increase. This upward trend suggests a robust buy signal, reflecting growing market confidence in Sui as a significant altcoin. As it attracts more interest, Sui is establishing itself as a promising player in the blockchain landscape.

5 Crypto to Buy Now to Turn $100 to $100K During US Election 20245 Crypto to Buy Now to Turn $100 to $100K During US Election 2024
Source- DeFiLIama

Cryptocurrencies are poised to react to the election’s outcome, with some assets standing out for their performance potential. Investors are encouraged to stay informed, as market movements could provide unique entry points.

Frequently Asked Questions (FAQs)

Bitcoin’s established market position and heightened election attention make it a leading asset.

STRUMP aligns with Trump’s ideals, gaining popularity for potential returns.

TREMP’s political satire theme has fueled investor interest and market gains.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Q2 Bitcoin Mining Costs Spike To Nearly $50K

Published

18 hours ago

on

November 4, 2024

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



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KYVE Network plummets, Undeads Games exhibit triple-digit

Published

1 day ago

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November 4, 2024

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KYVE Network has emerged as the top gainer as per the latest data with its 340% surge in the last 24 hours.

According to the latest data from CoinGecko, KYVE has shot up from a 24-hour low of $0.01307 to as high as $0.57877 but plummeted to $0.03183 at last check Sunday.

KYVE Network plummets, Undeads Games exhibit triple-digit gains - 1
Source: CoinGecko

A closer look at different timeframes shows that KYVE was up by 220% in the last seven days.

The price surge, and subsequent plummet, happened while the overall market was dumping. The latest data shows that the global crypto market cap is down by 2.5% in the last 24 hours.

One of the possible developmental reasons for the surge is the recent release of their beta testing phase 2.

Undeads Games rises close to 200%

The second token on the top gainers list is UDS, with a price surge of 190%. According to CoinGecko data, UDS is up from a 24-hour low of $0.1712, and to as high as $0.7597.

At press time, the token is trading at $0.5623 — roughly a 700% surge in the last seven days. This upward movement has helped UDS hit the $28.1 million market cap.

KYVE Network plummets, Undeads Games exhibit triple-digit gains - 2
Source: CoinGecko

However, the exact reason for the pump is unclear. There haven’t been any major announcements or project milestones that helped the coin achieve this price surge.

Bitcoin (BTC), which managed to climb above the $72,000 level a few days back, has reversed course in the last 24 hours.





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