US Senator Cynthia Lummis believes Trump could establish a strategic reserve of Bitcoin within his first 100 days in office 🏛️🪙. Lummis proposed the “Bitcoin Act” in July, which aims to integrate Bitcoin into the US financial system 🏦🇺🇸 and create a secure reserve storage network 🔒. It proposes that the Treasury Department would seize 1 million Bitcoin over five years 📅, with the assets held for at least 20 years ⏳.
Loomis hopes the bill will gain broad support 🤝, saying the move could transform the US financial landscape 📈💵. Bitcoin Inc CEO David Bailey also supports the project, noting that Trump prioritizes Bitcoin over other policies 🥇.
Bailey also called for expanding the use of Bitcoin in government projects 💡, and floated the idea of allocating a portion of Social Security payments in Bitcoin 💰. For his part, Robert F. Kennedy Jr. was a supporter of the idea of the United States buying four million Bitcoins to boost its reserves 💼🛡️.
Market interest in the plan has sent Bitcoin's price to record highs 📊🚀, with institutional investors and influencers joining in to support the idea, boosting Bitcoin's chances as a major reserve asset 🌐💎.
