Senator Lummis Reintroduces Bill for US Bitcoin Reserve of 1 Million BTC
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- Lummis proposes a U.S. Bitcoin reserve, directing the Treasury to accumulate 1 million BTC.
- Trump’s national Bitcoin reserve plan aims to avoid taxpayer costs, using forfeited assets.
- Bitcoin’s price surged following Michael Saylor’s announcement, reflecting market confidence.
Efforts to create a U.S. Strategic Bitcoin Reserve have intensified, with Senator Cynthia Lummis again proposing legislation to accumulate 1 million BTC over five years.
The bill, revived from a 2024 proposal, directs the government to purchase Bitcoin using funds from the Federal Reserve system. These funds would be specifically allocated from reserve banks for these acquisitions.
Senator Lummis’s proposal calls for the U.S. Treasury to accumulate Bitcoin, treating it as a long-term asset rather than a speculative investment. The legislation states the government will use a portion of the Federal Reserve’s transfers, set at $6 billion annually from 2025 to 2029, to build up the Bitcoin reserve.
The plan…
The post Senator Lummis Reintroduces Bill for US Bitcoin Reserve of 1 Million BTC appeared first on Coin Edition.
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$ 64.33K
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