Senator Cynthia Lummis announced plans to establish a strategic Bitcoin reserve to boost U.S. economic security.
Bipartisan Support and Government Initiatives
The proposed legislation anticipates the U.S. government acquiring 1 million Bitcoins within five years and holding them for at least 20 years. Reports indicate the plan is based on utilizing existing assets without introducing new tax measures. Bipartisan support requiring 60 votes is expected for the bill's passage.
Trump Administration and Digital Asset Policy
Senator Lummis noted that the Trump administration also participated in discussions about digital assets and appointed officials exhibited positive attitudes. Fifteen states nationwide have started preparing legislative proposals for such strategic reserve initiatives.
Significance of Bitcoin Reserve for U.S. Economy
Proponents of the bill assert that a strategic Bitcoin reserve could protect the U.S. economy against inflation and strengthen its global financial standing.
The news highlights that the strategic reserve proposal, supported by various political factions and states, is part of U.S. efforts to ensure economic stability.
