Cynthia Lummis Suggests Bitcoin as Part of US Financial Reserves

by Giorgi Kostiuk

a year ago

US Senator Cynthia Lummis has reiterated her proposal to integrate Bitcoin into the national reserves alongside traditional assets like gold.

Senator Cynthia Lummis' Proposal

Wyoming Senator Cynthia Lummis has unveiled plans to include Bitcoin as part of the US national reserves. She believes that this could act as a safeguard against inflationary risks.

Industry Support

Lummis's proposal has received backing from industry figures, including Michael Saylor, co-founder of MicroStrategy, who stated that incorporating Bitcoin into national reserves could help stabilize the US economy.

It would be a smart move to help stabilize the U.S. economy and protect against financial risks.Michael Saylor

Challenges of the Proposal

Despite support, Lummis's proposal faces challenges due to policy concerns and economic risks. The US traditionally relies on gold to support the dollar, and adding Bitcoin presents a significant shift.

Cynthia Lummis's proposal to include Bitcoin in US national reserves has sparked wide discussion. While supported by some industry leaders, it faces significant challenges.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Strategylinked Tickers Gain Attention as Bitcoin Holds Steady

Jeff Walton highlights potential for STRC to hover near par as Bitcoin maintains its price range.

Nguyen Van Long2 hours ago

Ondo Finance Obtains Regulatory Clearances in the US and EU.

Ondo Finance has secured regulatory approvals to operate tokenized securities markets in the US and EU.

Aisha Farooq10 hours ago

Ondo Finance Introduces Ondo Chain and Establishes Significant Partnerships.

In 2025, Ondo Finance launched its new blockchain network, Ondo Chain, while securing regulatory approvals in both the United States and the European Union, forming significant partnerships with major financial institutions.

Luis Flores10 hours ago

Ondo Finance finalizes cross-chain deal with JP Morgan.

Ondo Finance, in collaboration with Chainlink and JP Morgan, completed a cross-chain Delivery versus Payment transaction on Ondo Chain, marking JP Morgan's first settled deal on a public blockchain.