The price of Bitcoin has risen significantly in recent days, reaching $77,013.07 as investors react positively to the introduction of a proposed US House bill. This legislation aims to reduce the risk of sell pressure on the cryptocurrency by requiring a 20-year lockup of government-held Bitcoin.
The bill also introduces quarterly proof-of-reserve audits, which would provide an additional layer of transparency and regulatory assurance for market participants. This move is seen as a positive development for Bitcoin, as it would reduce the risk of sell pressure from seized coins.