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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 ...
To fund the purchase, the government would revalue about $11 billion worth of gold certificates on the Federal Reserve’s balance sheets. Lummis said establishing a bitcoin reserve could help the ...
U.S. Sen. Cynthia Lummis, R-Wyoming, has already introduced the Bitcoin Act of 2024 that would make the strategic Bitcoin reserve a reality. ... The exchange-traded fund genie is now out of the ...
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.
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 ...
Sen. Cynthia Lummis (R–Wyo.) has introduced a bill to make that strategic reserve real, working toward government ownership and stewardship of a million bitcoin—nearly 5 percent of the total ...
"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.
WASHINGTON (Reuters) -Bitcoin hit a record high above $107,000 on Monday after President-elect Donald Trump reiterated plans to create a U.S. bitcoin strategic reserve, stoking the enthusiasm of ...