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But, as outlined by Lummis, the strategic Bitcoin reserve would commit the U.S. government to buying 200,000 Bitcoins per year, for a total of 1 million Bitcoins during the next five years.
Hence the momentum behind a strategic bitcoin reserve. Following MicroStrategy’s price models, the bitcoin reserve proposed by Senator Lummis could cut the national debt in half over the next 20 ...
The concept of the strategic Bitcoin reserve first broke into the public consciousness in July 2024, during a Bitcoin conference in Nashville, when U.S. Senator Cynthia Lummis (R-Wyoming) outlined ...
U.S. Sen. Cynthia Lummis, R-Wyoming, has already introduced the Bitcoin Act of 2024 that would make the strategic Bitcoin reserve a reality. It would commit the U.S. government to purchasing 1 ...
Under Sen. Lummis' proposal, the US would convert gold certificates held by the Federal Reserve to today's fair market value before selling them and using the proceeds to buy bitcoin.
Bitcoin is up 125% for the year as of Dec. 10 and has finally broken through the psychologically important $100,000 price level to set a new all-time high. ... Lummis (R-Wyo.), is to use this ...
"If we do get a bitcoin strategic reserve where the government is buying bitcoin … $200,000 bitcoin is going to be looking quaint. You're going to be looking at $300,000, $400,000, $500,000 bitcoin.
Sen. Cynthia Lummis says the Fed should sell some of its gold reserves to buy bitcoin. Sen. Lummis believes a bitcoin reserve could strengthen the dollar and help reduce the US debt pile.