Senator Cynthia Lummis has introduced the “BITCOIN Act of 2024” to establish a federal Bitcoin reserve of 1 million BTC over five years.
The Federal Reserve will purchase up to 200,000 BTC annually. These assets cannot be sold for 20 years, except to offset national debt, with a 10% liquidation option every two years thereafter.
Funding will partly come from revaluing historical “gold certificates.” The Bitcoin will be stored in decentralized vaults, with quarterly valuation reports by the Treasury.
This initiative, supported by figures like Donald Trump and Robert Kennedy Jr., aims to enhance the U.S. dollar’s global position, marking a significant step in integrating Bitcoin into national reserves.
