Senator Cynthia Lummis suggested at the DC Blockchain Summit that Bitcoin could effectively address the U.S. national debt issue.
Bitcoin's Potential for National Debt
Senator Cynthia Lummis highlighted Bitcoin's characteristics such as scarcity, immutability, and storability, making it a robust long-term asset for national stability. She stated that holding Bitcoin for 20 years could potentially reduce the national debt by half, citing the country's $36 trillion debt.
Bitcoin as a Strategic Reserve
Cynthia Lummis also proposed a Bitcoin strategic reserve, noting its similarity to national reserves of oil, gold, and even cheese. Lummis views Bitcoin as digital gold and believes it is a solution to ancestral monetary policy problems.
Market Impact and Forecasts
The speeches by Lummis and Saylor sparked a rise in Bitcoin's price and market capitalization, confirming market interest in Bitcoin as a strategic asset. Saylor also projected Bitcoin price reaching $13 million over the next 20 years, citing its unique fixed supply and commodity status as key factors.
Bitcoin continues to be a central subject in strategic discussions among policymakers and financial analysts. Its potential to stabilize the economy and impact the U.S. national debt generates significant interest, as reflected in the market response.
