Key Points
- Bitcoin reclaimed $83,000, following a dip below $80,000 on March 13.
- Today, US legislation will be introduced to codify Trump’s Executive Order on BTC and crypto.
Today, Bitcoin recorded a price recovery, pushed by optimism regarding upcoming legislation in the US that will finally codify President, Donald Trump’s Executive Order on establishing a Strategic Bitcoin Reserve and a Crypto Stockpile.
The bill aims to prevent future administrations from overturning the Reserves via executive action, ensuring that Trump’s crypto-friendly policies will continue.
Bitcoin Surged Above $83,000
At the moment of writing this article, BTC is trading above $83,000, up by 0.5% in the past 24 hours. The digital asset recorded five consecutive green candles on the chart earlier.
BTC debuted an ascendant trajectory following a recent price drop below $80,000 on March 13. Yesterday, BTC saw a price drop from over $83,000 but rebounded today.
Earlier, their morning around $2.87 billion in Bitcoin options expired, and the fact that the digital asset’s price continued to surge is a good sign.
🚨 Options Expiry Alert! 🚨
At 08:00 UTC this Friday, ~$3.27B in crypto options are set to expire.$BTC: $2.87B notional | Max Pain: $86K | Put/Call Ratio: 0.74$ETH: $399M notional | Max Pain: $2,150 | Put/Call Ratio: 0.71Max pain has been ticking lower week after week. Do… pic.twitter.com/QvRoP0cTWq
— Deribit (@DeribitExchange) March 13, 2025
Bitcoin’s price is pushed upwards by optimism in the crypto industry as the US prepares to codify into law Trump’s executive order on an SBR and crypto.
Bitcoin and Crypto Legislation to be Introduced in the US Today
Bloomberg reported that US Representative Byron Donalds will introduce legislation to codify the Executive Order that President Trump signed recently on establishing a Strategic BTC Reserve and a National Digital Asset Stockpile.
If this bill passes, it would bring the following benefits:
- It would ensure that the BTC Reserve and Crypto Stockpile could not be eliminated by executive action from a future president.
- It would protect the crypto-friendly policy that Trump embraced in 2024 and 2025.
According to notes from Bloomberg, the bill would require 60 votes in the Senate and a majority in the House. The good thing is that Bitcoin and crypto have earned bipartisan support in Congress.
Ending the War on Bitcoin and Crypto
Donalds said that for years, the Democrats waged war on crypto, and now is the time for the Constitutional Republicans to end it.
Cynthia Lummis, the BITCON Act creator, updated the bill and it now mandates a fixed minimum 200,000 BTC annual purchase, enforcing stricter HODL rules.
NEW: 🇺🇸 Senator Lummis’ updated #Bitcoin Act now mandates a fixed minimum 200K BTC annual purchase and enforces stricter HODL rules. 💪 pic.twitter.com/CGXNn8gbnl
— Swan (@Swan) March 13, 2025
Lummis’ BITCOIN Act will codify Trump’s vision and strengthen the nation’s economic foundation for generations to come.
The crypto industry is surrounded by optimism on this important day, and amidst rising global adoption.
