In a move that has caused a stir in the cryptocurrency community, Senator Cynthia Lummis has just revealed her intention to introduce a landmark bill: the US Bitcoin Strategic Reserve. The bill, which will be introduced on November 6, aims to help the US establish a national reserve for Bitcoin, which could significantly change the US government’s approach to the digital asset.
Bitcoin Reserve for the US Treasury: Senator Lummis’s Bold Plan to Fight Inflation
On July 31, Senator Lummis first proposed the Bitcoin Strategic Reserve Act, one of the most prominent cryptocurrency-related proposals since Donald Trump was re-elected as US President. The plan aims to build a decentralized network of secure Bitcoin storage vaults, controlled by the US Treasury, to gradually accumulate 1 million Bitcoins - equivalent to about 5% of the total global Bitcoin supply.
The goal is to strengthen the dollar and reduce public debt.
According to Senator Lummis, Bitcoin reserves not only help the US hedge against inflation but also serve as a strategic measure to strengthen the dollar. In addition, the plan promises to reduce the burden of public debt by using this valuable digital asset as part of the country's financial strategy.
