- Cynthia Lummis advocates Plan To Pass Bitcoin Reserve Bill.
- Senator highlights that Bitcoin is a store value, not a speculative investment.
Senator Cynthia Lummis advocates Bitcoin again and reiterates her support for creating a law that would make BTC a strategic reserve for the U.S. government. She believes this would strengthen America and help fix the financial issues that their generation is creating.
Moreover, the bill proposes that the U.S. government acquire 1 million Bitcoins in the next five years and keep them for at least 20 years. Lummis highlights that the government will use preexisting money within the Federal Reserve and the Treasury to buy these Bitcoins rather than raise taxes.
Bitcoin as Store Value
According to Senator Lummis’ latest interview, she is gathering senate support to establish a Bitcoin strategic reserve in America. This new legislation requires sixty votes for approval. Senator Lummis stated that the ongoing process is good but needs some more efforts to advance it.
She also highlighted that the Congress members are expressing their interest in these policies as they are worried about the future stability of the U.S. dollar. The supporters of this reserve see Bitcoin as the tool that helps the U.S. to fight against inflation. Senator also highlights how Bitcoin reserve is a way to make things better for younger generations.
Lummis said:
Lummis said Bitcoin is not just a speculative asset it is a store value that will provide long-term financial security for the United States of America. Now other countries’ governments and crypto leaders are also attracted to Bitcoin Reserve. Recently Changpeng Zhao former CEO of Binance also urged the European Union to adopt Bitcoin as their reserve.
Highlighted Crypto News Today:
Kraken delists USDT and other stablecoins Under EU MiCA
