Reserve Dollar

2024

Bitcoin

Reserve

Senator Cynthia Lummis has introduced a bill proposing that the US government buy and hold 5% of the global Bitcoin supply to help reduce the national debt. This proposal was announced at the Bitcoin 2024 Conference in Nashville on July 27. 
Lummis’s plan involves purchasing one million Bitcoin over the next five years, starting with 210,000 Bitcoin. These will be stored in various secure locations. “Instead of holding assets that lose value over time, we will invest in Bitcoin, which increases in value,” Lummis explained, emphasizing Bitcoin’s potential to protect the nation’s wealth against inflation. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BREAKING: 🇺🇸 Senator Cynthia Lummis announces legislation for a Strategic <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Reserve for the USA.<a href="https://twitter.com/hashtag/Bitcoin2024?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin2024</a> <a href="https://twitter.com/hashtag/Bitcoin2024Nashville?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin2024Nashville</a> <a href="https://t.co/pT8JfTVj6p" target="_blank">pic.twitter.com/pT8JfTVj6p</a>— The Crypto Times (@CryptoTimes_io) <a href="https://twitter.com/CryptoTimes_io/status/1817304984905810319?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 27, 2024</a>
 </blockquote> 
 </div>
</figure> 
She further explained that this move could significantly strengthen the financial position of the US by shifting investments from depreciating assets to appreciating ones. 
The proposal was well-received by the audience, reflecting Lummis’s strong standing in the cryptocurrency space. She compared this initiative to significant historical moves like the Louisiana Purchase, underscoring its potential to be a transformative decision for the nation’s economy. 
The announcement came after former President Donald Trump’s <a href="https://www.cryptotimes.io/2024/07/28/bitcoin-will-surpass-gold-its-a-miracle-trump-at-nashville-2024/" target="_blank" rel="noreferrer noopener">speech</a>, where he shared his goal to make the US a leading hub for cryptocurrency if he is re-elected. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/28/trump-plans-to-form-new-crypto-presidential-advisory-council/" target="_blank" rel="noreferrer noopener">Trump Plans to Form New Crypto Presidential Advisory Council</a> 
</blockquote>

Sen. Lummis Proposes U.S. to Buy 5% of Global Bitcoin Supply

The Crypto Times

Alte articole publicate pe 28 iul. 2024

Bitcoin’s price rally to $70K could lure buyers to XRP, KAS, STX and JASMY

Riot Platforms Buys Block Mining for $92.5M

Economy: The end of tax havens for the super-rich? The G20 takes action.

MAGA and TREMP Prices Surge Ahead of Trump’s Bitcoin Conference

BinaryX Announces Historic Vote to Burn 74% of BNX Tokens

Bitcoin rallies and sentiment peaks as major pro-crypto moves emerge

Join our free newsletter for daily crypto updates!