*🚨Senator Cynthia Lummis' Strategic Bitcoin Reserve Bill*🔻🔻🔻$BTC $XRP

- *Purpose*: Senator Cynthia Lummis has introduced a bill to create a strategic bitcoin reserve in the United States, aiming to reduce the national debt by purchasing 1 million BTC over five years .

- *Key Components*:

- The U.S. Treasury will purchase 1 million bitcoins, worth around $68 billion, over five years .

- The strategic reserve will start with the 210,000 Bitcoin already held by the U.S. Department of Justice and other agencies.

- The bill aims to establish a decentralized network of secure Bitcoin vaults operated by the Treasury Department.

- *Rationale*:

- To counter the effects of dollar debasement and inflation .

- To diversify the Federal Reserve's balance sheet and secure the U.S. dollar's position as the world's reserve currency .

- To reduce the national debt by using the appreciated value of Bitcoin .

- *Reception*:

- The bill has been well-received by the crypto community, with many seeing it as a positive step for Bitcoin adoption and mainstream recognition .

- Some experts have expressed skepticism about the feasibility and potential impact of the bill .