A strategic Bitcoin reserve might be quickly achieved under the new Trump administration, according to Wyoming Senator Cynthia Lummis. Lummis proposed the Bitcoin Act at the end of July, detailing a thorough strategy to incorporate BTC into the country’s financial infrastructure, following former President Trump’s proposal to build a US strategic BTC reserve.

In order to safely store Bitcoin reserves, Lummis suggests in his proposed Strategic Bitcoin Reserve Bill the creation of a nationwide network of decentralized storage facilities. The measure stipulates that the US Treasury must acquire one million bitcoins (BTC) over five years, or 200,000 BTC per year, and that the government must retain these assets for at least 20 years. In addition, the US government's present holdings of Bitcoin should be consolidated into the new reserve, and a proof of reserves mechanism should be put in place to validate holdings.

There Is Truth to the Bitcoin Reserve Rumors

If we have the people's backing, we can get this done in the first 100 days with bipartisan support," Senator Lummis said today on X, expressing his confidence in the plan's viability. If this happens, our country's financial situation would alter forever. Let's approve the Bitcoin Act and put America on solid financial ground!

The CEO of Bitcoin Inc., David Bailey, who has played a key role in advising Trump on crypto-friendly policy, was the target of her article. The Bitcoin reserve might be set very quickly under the new government, according to Bitcoinist's reporting, which Bailey has previously said. Coming to the present, he composed:

A lengthy and urgent list of policy priorities exists for the Bitcoin and crypto industries... Nonetheless, President Trump has prioritized the Strategic Bitcoin Reserve above all other policies, and it is a game-changer. Everything changes as a result of the ripple effects. We have one hundred days to do it.

Additionally, Bailey suggested expanding the use of BTC in government projects. He proposed discussing the possibility of putting 5-10% of Social Security payments into Bitcoin kept at the Strategic Reserve in the event that Robert F. Kennedy Jr. is nominated to the position of Secretary of Health and Human Services and is thereafter responsible for managing Social Security.

It would be RFK's job to run Social Security if he were named Secretary of HHS. Bailey writes today via X that we could discuss resolving Social Security's financial crisis and increasing the distribution of Bitcoin's value by placing 5-10% of SS payments into Bitcoin (kept at SBR).

Among those who have called for official backing of Bitcoin in the past is Robert F. Kennedy Jr. He revealed a scheme for the United States to buy four million Bitcoins to increase the country's reserves at the Bitcoin 2024 conference.

Today, the price of Bitcoin reached an all-time high of $89,940 on Binance, thanks to the market's excitement about the Strategic BTC Reserve. Much of the attention around the plan has come from sources outside of the Bitcoin community, including the mainstream media and conversations on Wall Street.

Barbara Goodstein, Managing Partner at R360, a private community for ultra-wealthy centimillionaires, discussed the increasing interest in Bitcoin (BTC) among investors in an interview yesterday. “We think Bitcoin could become the next strategic reserve asset,” Goodstein said when asked how they felt about BTC in comparison to more conventional assets like gold. Currently, the nation has 232,000 bitcoins. We predict that Trump might increase it to more than 1 million. Bitcoin will "augment" gold, not replace it, she said when questioned.

X also heard from Anthony Scaramucci, who founded SkyBridge Capital. He said, "To those not already long Bitcoin (my opinion, not financial advice): it may feel like you missed it, but you didn't," urging anybody who wasn't already invested in BTC to think about it. Good morning. Senator Cynthia Lummis (D-WA) will lead the United States in establishing a Strategic Bitcoin Reserve. Institutional asset allocators, asset managers, and financial advisors/RIAs from other nations will follow suit. Even if the cycle sped up after Trump's win, Bitcoin was and still is inevitable.


#Trump #WillBTCBreak100KSoon #AltCoinRush $BTC