At Bitcoin 2024, Senator Cynthia Lummis proposed a strategic Bitcoin reserve to strengthen the U.S. dollar and maintain America’s financial leadership. The announcement came on July 27, the event’s last day, and was highlighted by former President Donald Trump’s keynote address, where he also supported a national Bitcoin reserve.
Lummis’ plan involves the U.S. Treasury creating a decentralized network of Bitcoin vaults, acquiring one million BTC, and holding them for 20 years. The reserve’s sole use would be to pay down national debt, funded by diversifying existing Federal Reserve and Treasury funds.
Trump, a 2024 presidential candidate, pledged to establish a strategic national Bitcoin stockpile if elected, including all U.S.-held and future-acquired Bitcoin. He also promised to reform crypto regulations.
This initiative signals a potential shift in the U.S. approach to digital assets, aiming to secure long-term economic stability and innovation.
