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But policymakers could boost confidence in the dollar even further by pairing a strategic bitcoin reserve with a robust strategy to champion US dollar-based stablecoins—digital assets backed 1 ...
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 ...
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.
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 ...
The first regulated bitcoin fund was established in Jersey in July 2014 and approved by the Jersey Financial Services Commission. [149] Also, c. 2012 an attempt was made by Cameron and Tyler Winklevoss (who in April 2013 claimed they owned nearly 1% of all bitcoins in existence [150]) to establish a bitcoin ETF. [151]
A sovereign wealth fund (SWF) is a fund owned by a state (or a political subdivision of a federal state) composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds are entities that manage the national savings for the purposes of investment.
The most concrete bitcoin reserve proposal circulating in Washington comes from pro-crypto Republican Senator Cynthia Lummis, who personally holds five bitcoins.
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 ...