Earlier this year, U.S. senator Cynthia Lummis (R-Wyo.) introduced The Bitcoin Act to Congress, calling for the creation of a strategic bitcoin reserve to reduce the U.S.'s spiraling, near-$36 trillion national debt by buying 1 million bitcoin over five years.

Bitcoin came within a whisker of closing above $100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

After months of stagnation since spring, Bitcoin ( BTC 3.31%) has roared back to life. Riding the momentum of pro-crypto candidate Donald Trump's presidential election victory, the world's largest cryptocurrency recently soared to new heights, reaching $98,000 on Nov. 20 (as of this writing).