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Republican Senator Cynthia Lummis introduced a bill to use existing government funds to purchase 1 million bitcoins. ... Not only could a strategic Bitcoin reserve significantly reduce our ...
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 ...
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.
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 ...
Lummis owned at least $230,000 worth of Bitcoin in 2021. [150] In October 2021, CNBC reported that she had violated the Stop Trading on Congressional Knowledge (STOCK) Act of 2012 , a federal transparency and conflict-of-interest law, by failing to disclose within 45 days a purchase of Bitcoin she made in August 2021 worth between $50,001 and ...
He said Trump is "excited" about the idea of a strategic bitcoin reserve. Senator Cynthia Lummis (R-Wyo.) is leading the efforts in Congress to create such a reserve.
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 ...
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 ...