i do not think this is the biggest news we have been talking about this for months even before trump won the election of course i know a confirmation is huge but then again nothing is yet set to stone until trump gets inaugurated and he actually makes changes to how the us government holds and sees bitcoin or crypto in general
what would be huge news to me is if a country that is previously against crypto starts buying it like china or russia it would seem like bitcoin would be used by these big countries not only for their economical gain but also for political reasons
Nothing is certain because even if the president himself proposes this bill, it still needs to be passed by Congress before it becomes a reality. But this is still big news because everything needs a pioneer and an initiator and fortunately the initiator is the president so the success rate will be higher than anyone.
You don't need to worry about countries banning bitcoin, once the United States officially makes bitcoin national reserve, then like it or not, not only China and Russia but all countries in the world will have to follow suit. That is the power and appeal of the world's number 1 power.
Similar news can have a positive impact on the market before it becomes reality. If a bill is drafted and passed, then a greater impact will occur. The new government's positive approach to Bitcoin is known, but this positive approach also needs to be accepted as law.
When many countries legalize Bitcoin, Bitcoin's rise will accelerate even more because some countries usually follow each other. The legal acceptance of Bitcoin will also remove many obstacles in front of it.