Bitcoin price climbs 2% to trade at $81555 as of 3 a.m. EST

The Bitcoin price climbed 2% in the last 24 hours to trade at $81555 as of 3 a.m. EST

The Bitcoin price rose 2% in the last 24 hours to trade at $81,555 as of 3 a.m. EST on Thursday. The biggest cryptocurrency’s trading volume dropped 20% to $47.04 billion in the 24 hours.

The BTC price recovery comes as US Senator Cynthia Lummis (R-WY) has reintroduced the BITCOIN Act in Congress.

The bill would allow Donald Trump’s administration to start a Strategic Bitcoin Reserve that could hold no more than 1 million BTC, and it would also permit the administration to sell any of the coins to maintain the reserve at 500,000 BTC.

It would also allow the U.S. president to accept Bitcoin for any claim, obligation, or debt of the United States.

Lummis said in a statement that the legislation would help to ensure the long-term economic security of the U.S.

“For too long, we have allowed other countries to dictate the terms of the global financial system,” she said.

“This administration is committed to putting America first, and that includes ensuring that we have the best possible tools to manage our own economic destiny.”

The BITCOIN Act is co-sponsored by US Senator Steve D. McCain (R-AZ).

Lummis’s bill is the latest sign of growing interest in cryptocurrency among U.S. lawmakers.

Earlier this year, US Representative Tim Gray (R-TX) introduced a bill that would classify Bitcoin, Ethereum and other cryptocurrencies as commodities.

Gray’s bill, known as the Digital Commodities Protection Act, is closely watched by cryptocurrency investors.

The bill would also create a new regulatory framework for cryptocurrency exchanges and other businesses operating in the industry.

The move comes amid a broader crackdown on cryptocurrency by U.S. regulators.

In March, the Securities and Exchange Commission sued cryptocurrency exchange Binance for allegedly operating without registering with the agency and defrauding investors.

The SEC also sued former FTX CEO Sam Bankman-Fried for allegedly misusing customer funds and violating securities laws.