Senator Cynthia Lummis Introduces Strategic Bill: Bitcoin as a National Reserve
- Senator Cynthia Lummis proposes to accept Bitcoin as a strategic reserve.
- According to the bill, Trump’s government will purchase 1 million Bitcoin, which is 5% of the total supply.
- Lummis’ proposal is a solution to the country’s mounting debt.
Republican Senator Cynthia Lummis has introduced a revolutionary bill to accept Bitcoin as the United States’ strategic reserve. During the Bitcoin Conference 2024 in Nashville, Lummis proposed that the government under Donald Trump’s presidency would purchase 5% of the total Bitcoin supply and hold it for at least 20 years.
The Senator acknowledged the move as a solution for the country’s mounting debt. Hinting at the potential developments and their impacts on the country’s economy, Lummis wrote in a recent X post, “The ₿est is yet to come… you ain’t seen nothing yet.”
In an interview, Lummis posited that Bitcoin is a great store of value. Comparing Bitcoin with the US Dollar, Lummis highlighted the former’s potential to boost the country’s financial lead, stating…
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