Big news is coming out of Washington, D.C.! U.S. Senator Cynthia Lummis has just unveiled a groundbreaking proposal at Bitcoin 2024 that could supercharge the U.S. dollar and revolutionize our financial system. She’s pushing for the establishment of a strategic Bitcoin reserve, aimed at protecting the dollar from rising inflation and securing America’s economic future.
Lummis’s proposal suggests creating a decentralized network of secure Bitcoin vaults managed by the U.S. Department of Treasury. These vaults would hold a million Bitcoin units, which would account for about 5% of the total Bitcoin supply—similar in scale to the U.S. gold reserves. This strategic reserve would be locked away for 20 years, with its only use being to help pay down the national debt.
The plan is to fund this ambitious Bitcoin purchase by reallocating existing funds within the Federal Reserve and Treasury Department. Importantly, Lummis emphasizes that this reserve will not infringe on the rights of private Bitcoin holders. This move could solidify the dollar’s dominance as the world’s reserve currency and demonstrate America’s leadership in financial innovation.
Crypto enthusiasts, this could be a game-changer. By diversifying into Bitcoin, Lummis believes we can secure a brighter economic future for generations to come. Stay tuned as the bill is expected to be introduced soon, with more supporters joining the cause.
