Sen. Cynthia Lummis announces bill for US Treasury to buy 1 million bitcoin worth $68 billion: Bitcoin 2024đ„
Senator Cynthia Lummis, of Wyoming, will introduce a bill to direct the U.S. Treasury to purchase 1 million bitcoins â worth about $68 billion at current prices â over a period of five years next week, she said in an interview with The Block. The move is made to counter the effects of dollar debasement, she said.
âBitcoin
BTC +1.27%
is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and weâve seen increasing inflation,â Sen Lummis said.
