Reserve

Bitcoin

President Donald Trump

Donald Trump

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/politicians-and-investors-advocate-for-us-bitcoin-reserve/" data-wpel-link="internal">Politicians and Investors Advocate for US Bitcoin Reserve</a><br></p>
<p style="text-align: justify">Some leading politicians and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> in the US argue that the country should create a <a href="https://en.coin-turk.com/googles-artificial-intelligence-indicates-a-price-range-of-40000-to-60000-for-bitcoin-in-2024/" data-wpel-link="internal">Bitcoin</a> (BTC) reserve. This idea has gained attention after being voiced by figures like former President Donald Trump and Senator Cynthia Lummis.</p> 
<h2 style="text-align: justify" id="strong-trump-and-senator-lummis-statements-await-clarity-strong"><strong>Trump and Senator Lummis’ Statements Await Clarity</strong></h2> 
<p style="text-align: justify">Trump, in his speech at the 2024 Bitcoin Conference, proposed converting the US’s current Bitcoin holdings into a “strategic national Bitcoin stock.” He suggested that these holdings could provide a permanent national gain for the US.</p> 
<p style="text-align: justify">Senator Lummis is working on a bill supporting this proposal. The bill aims to increase the US’s current 200,000 BTC holdings to 1 million BTC. Lummis compared this initiative to the “Louisiana Purchase,” calling it a historic opportunity, but there is still no clear explanation on how the bill will be implemented or how it will reduce national debt.</p> 
<p style="text-align: justify">As is known, the US’s current Bitcoin holdings were generally obtained through operations against individuals involved in criminal activities. For example, the US government seized about 95,000 Bitcoins in an operation related to the hacking of the Bitfinex exchange, but there is still uncertainty about how these holdings will be used.</p> 
<h2 style="text-align: justify" id="strong-many-questions-surround-the-national-bitcoin-reserve-strong"><strong>Many Questions Surround the National Bitcoin Reserve</strong></h2> 
<p style="text-align: justify">The idea of a national Bitcoin reserve proposed by Trump and Lummis would mean the US accepts Bitcoin as a strategic reserve, but this idea raises many questions such as “how much Bitcoin should be held,” “how should it be obtained,” and “in what situations should it be used.” Rahul Mewawalla, CEO of Mawson Infrastructure Group, stated that answering these questions would be difficult.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374662" src="https://coin-turk.com/wp-content/uploads/2024/07/michael.jpg" alt="" width="756" height="518"></p> 
<p style="text-align: justify">Senator Lummis’ bill is unlikely to progress in the current congressional session, but the idea is supported by Bitcoin advocates like Michael Saylor and Cathie Wood. Saylor argues that the US should buy and hold 4 million Bitcoins, while Wood believes that if managed correctly, this could enhance the US’s financial power.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/politicians-and-investors-advocate-for-us-bitcoin-reserve/" data-wpel-link="internal">Politicians and Investors Advocate for US Bitcoin Reserve</a></h5>
<p>The post <a href="https://en.coin-turk.com/politicians-and-investors-advocate-for-us-bitcoin-reserve/" data-wpel-link="internal">Politicians and Investors Advocate for US Bitcoin Reserve</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Politicians and Investors Advocate for US Bitcoin Reserve

Table of Contents

COINTURK NEWS

دیگر آرٹیکلز 30 جولائی، 2024 پر پبلش کیے گئے ہیں

SEC Revises Complaint Against Binance: Solana No Longer Classified as Security

WTK Price Falls as WadzPay Holders Jump Ship After MEXC Listing Announcement, is a Binance Listin...

Dogecoin, Solana, Avalanche Perp Contracts Brace For Major Listing

21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF

Peter Schiff Criticized Trump, Saylor’s Over ‘Never Sell Bitcoin’ Philosophy

Hamster Kombat surpasses 300M users, teases ‘largest airdrop’ in crypto history

Join our free newsletter for daily crypto updates!