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Propelling the asset’s rapid ascent is talk of the United States creating a strategic Bitcoin reserve. ... the bitcoin reserve proposed by Senator Lummis could cut the national debt in half over ...
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 ...
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 ...
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 ...
What would a bitcoin reserve do? In the same week that Trump pledged to create a national stockpile, Wyoming Senator Cynthia Lummis put out the leading blueprint for what one could look like.
In July 2024, Lummis introduced legislation to create a "strategic Bitcoin reserve", which would entail that the Treasury and the Federal Reserve would buy five percent of the global supply of Bitcoin, which it would subsequently hold. [146] [147]
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 ...
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 ...