BCGAME - Free 5BTC Daily Bonus!- Bitcoin Could Become US National Reserve
- Initiative aims to reduce debt and lead innovation
- Bipartisan support grows for Bitcoin reserve
Following Donald Trump’s re-election as US President, cryptocurrency advocate Senator Cynthia Lummis has reiterated her commitment to making Bitcoin a national reserve asset. She proposes the creation of a strategic Bitcoin reserve designed to strengthen the country’s economy and reduce its national debt.
According to the BITCOIN Act of 2024, proposed by Lummis, the goal is to direct the US Treasury to acquire approximately 1 million Bitcoins over the next five years, in addition to establishing secure vaults under its administration for the storage of these cryptos.
WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE 🇺🇸 🇺🇸 🇺🇸
—Senator Cynthia Lummis (@SenLummis) November 6, 2024
Bitcoin’s value surged to a new high of $75.400 shortly after the election results were announced and Lummis’ remarks were made. The proposal has received significant momentum with Republican dominance in both the Senate and House of Representatives, increasing the likelihood of the bill passing. At the time of publication, BTC’s price was quoted at
US$ 76.064,95 up 10% in the last 24 hours.
Notable industry figures such as Samson Mow have highlighted the potential geopolitical impact of the initiative, noting that “massive geopolitical ramifications” could unfold if the price of Bitcoin surpasses $500.000. “It is crucial to acquire Bitcoin below $100.000,” Mow emphasized. Support also came from Michael Saylor, co-founder of MicroStrategy, and Pierre Rochard, vice president of research at Riot Platforms, both of whom strongly support Lummis’ proposed reserve strategy.
Lummis’ initiative not only aims to halve the national debt by 2045, but also to position the U.S. as a global leader in financial innovation and provide a robust hedge against inflation. President Trump has previously called for the United States to position itself as a “Bitcoin superpower” and has supported the idea of a national reserve of the cryptocurrency.
