Senator Lummis Advocates for US Strategic Bitcoin Reserve
- Senator Cynthia Lummis is pushing for a US strategic Bitcoin reserve strategy to combat inflation.
- The BITCOIN Act suggests the US Treasury acquire 1 million Bitcoins over five years.
- The proposal includes a mandatory 20-year holding period for the acquired Bitcoins.
- Lummis plans to reintroduce the BITCOIN Act in January 2025 with support from a crypto-friendly administration.
- A meeting between Lummis and Treasury Secretary nominee Scott Bessent in December 2024 discussed digital assets.
The BITCOIN Act, introduced by Senator Lummis, proposes acquiring up to 1 million Bitcoins over five years with a mandatory holding period of twenty years, aiming to address inflation and strengthen the dollar.
Source (2.6)https://cryptobriefing.com/bitcoin-reserve-strategy-us-treasury/?rand=59535
