Reserve

<div class="flex-shrink-0 flex flex-col relative items-end"> 
 <div> 
  <div class="pt-0"> 
   <div class="gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full"> 
    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>The ambitious plan outlines a five-year strategy for the U.S. government to accumulate 1 million BTC. These assets would be held for a minimum of 20 years.</strong></h4> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The reserve is intended to be used exclusively to pay down the national debt. This marks a significant shift in the way the U.S. manages its financial reserves.</p> 
<h5><strong>U.S. to Accumulate 1M BTC Over 5 Years</strong></h5> 
<div class="flex flex-grow flex-col max-w-full"> 
 <div class="min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="0dc446fa-9f7d-4d64-bfc8-8414e7322856"> 
  <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"> 
   <div class="markdown prose w-full break-words dark:prose-invert light"> 
    <p>Excess reserves from the 12 Federal Reserve banks will be converted into <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a> over five years. This approach leverages the potential of cryptocurrency to serve as a financial hedge and debt reduction tool. By converting these excess reserves into BTC, the U.S. aims to capitalize on Bitcoin’s potential for long-term value appreciation.</p> 
   </div> 
  </div> 
 </div> 
</div> 
<div class="group/conversation-turn relative flex w-full min-w-0 flex-col agent-turn"> 
 <div class="flex-col gap-1 md:gap-3"> 
  <div class="flex flex-grow flex-col max-w-full"> 
   <div class="min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="232c30a1-e5b8-467e-89e9-ee4993a0191c"> 
    <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"> 
     <div class="markdown prose w-full break-words dark:prose-invert light"> 
      <p>Senator Lummis sees Bitcoin’s decentralization and limited supply as key to diversifying reserves and reducing debt. Bitcoin has gained recognition for its role as a store of value and its potential to hedge against inflation. This aligns to use it as a strategic reserve to bolster the nation’s financial stability.</p> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p><img decoding="async" class="wp-image-146822 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgggg-300x259.jpg" alt="" width="517" height="446" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgggg-300x259.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgggg.jpg 390w" sizes="(max-width: 517px) 100vw, 517px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/BitcoinMagazine/status/1817304649793147150" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The plan calls for a gradual acquisition process to avoid disrupting the cryptocurrency market. By spreading the purchase of Bitcoin over five years, the U.S. government aims to minimize market volatility. This approach helps avoid a sudden spike in Bitcoin’s price that could arise from a large, one-time acquisition.</p> 
<h5><strong>More About Lummi’s Initiative</strong></h5> 
<p>This <a href="https://www.lummis.senate.gov/press-releases/lummis-announces-revolutionary-proposal-to-supercharge-the-dollar-bolster-u-s-economy/" target="_blank" rel="noopener">method</a> also allows the government to accumulate BTC at a more manageable pace, ensuring a steady build-up of the reserve. The proposed reserve will not be used for any other purpose apart from paying off the national debt. So, this strict limitation underscores the strategic nature of the reserve and its intended role in long-term fiscal responsibility. The 20-year holding period ensures that the Bitcoin reserve remains a stable and integral part of the U.S. financial strategy.</p> 
<p><img decoding="async" class="wp-image-146824 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/fdhhtre-300x259.jpg" alt="" width="503" height="434" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/fdhhtre-300x259.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/fdhhtre.jpg 391w" sizes="(max-width: 503px) 100vw, 503px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/SenLummis/status/1817302883894722687" target="_blank" rel="noopener">X</a></strong></h6> 
<p>So, critics of the plan argue that Bitcoin’s volatility and regulatory uncertainties could pose risks to the stability of national reserves. However, supporters view the proposal as a forward-thinking approach that could enhance the U.S.’s financial resilience and set a precedent for integrating digital assets into national economic strategies.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
<div class="youtube-embed" data-video_id="O5GHdT_reVc">
 <iframe title="LAST CHANCE - 6 Reasons to Be Extremely Bullish About Crypto &amp; Altcoins in 2024" width="696" height="392" src="https://www.youtube.com/embed/O5GHdT_reVc?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/lummis-proposes-1m-btc-reserve-to-reduce-u-s-debt/">Lummis Proposes 1M BTC Reserve to Reduce U.S. Debt</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Lummis Proposes 1M BTC Reserve to Reduce U.S. Debt

Altcoin Buzz

Alte articole publicate pe 29 iul. 2024

Hamilton Lane With $900B AUM Unveils SCOPE Fund on Solana

Crypto in Nigeria: A Rollercoaster of Regulation, Arrests, and P2P Boom

BlackRock Warns Against Bitcoin (BTC) and Ethereum (ETH) Scams!

TRON Founder Justin Sun Urges China to Lift Crypto Ban

Bitcoin at $69,000: Trump Revived Investor Optimism

AI Predicts Shiba Inu Performance Over The Coming Month, Mpeppe (MPEPE) To Perform Better

Join our free newsletter for daily crypto updates!