In this news:
A mysterious post from Sen. Cynthia Lummis (R-Wy.) on Thursday got Bitcoin fanatics’ hopes up that she would unveil a U.S. strategic Bitcoin reserve.
“₿ig things are coming,” she posted shortly after 9 a.m.
Lummis soon after added: “Stay tuned for 10 A.M.”
“Strategic #Bitcoin Reserve!?” asked Swan, a Bitcoin accumulation platform, in response to Lummis’ foreboding post.
“strategic WBTC reserve on ethereum,” predicted someone else.
“Is the SBR being announced today?” speculated another user.
Others joked that Lummis’ announcement would be completely unrelated to Bitcoin—or joked that she would unveil a memecoin.
As it turned out, Lummis was neither announcing a memecoin nor a strategic Bitcoin reserve.
The mysterious announcement? Being elected Chair of the Senate Banking Subcommittee on Digital Assets.
Several commenters credited Lummis’ teasing post with causing a small spike in Bitcoin trading.
“i’m not sure if Lummis realised what she did with her tweet,” wrote one person.
The build-up to the announcement outraged some critics—one of whom went so far as to call for Lummis to be “investigated for market manipulation.”
“How much #Bitcoin does she own and how much did she just make off the spike she caused with her announcement that turned out to be nothing?” the user pressed.
“Politicians are getting griftier by the day,” someone else accused, alleging a “Pump-and-Dump Scheme.”
Others, however, were less critical but remained disappointed.
“Congratulations, however this is not the ‘huge announcement’ we were hoping for,” replied another person.
“Congrats but in the future, pls understand the power you have with posts, just announce, no announcements of an announcement,” echoed another commenter.
But even though her announcement might not have been exactly what the Bitcoin fans were hoping for, the value of Bitcoin is still up compared to before Lummis’ posts.
And she gave a reason to be optimistic about the possibility of a strategic Bitcoin reserve in her announcement as well.
“Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and that strengthens the U.S. dollar with a strategic bitcoin reserve,” Lummis stated.
Since that post, Polymarket betting odds of President Donald Trump creating a strategic Bitcoin reserve jumped from 11% earlier this morning to 41%.
“US Strategic Bitcoin Reserve, pretty much confirmed. Crypto moving at crypto speed again,” concluded one X user about Lummis’ statement.
“Not the SBR, but they are signaling us. It’s happening,” concurred someone else of the announcement.
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