U.S. Senator Cynthia Lummis Proposes Strategic Bitcoin Reserve to Address National Debt
U.S. Senator Cynthia Lummis has put forward an impressive proposal aimed at tackling the country’s long-term fiscal challenges.
Lummis asserts that if the United States were to hold 1 million Bitcoins (BTC) as a strategic reserve over a period of 20 years, it could effectively reduce half of the $37 trillion national debt.
Lummis’ Plan for a Strategic Bitcoin Reserve
The senator emphasized that the process could be expedited, noting that the first action could involve digital assets seized by the US Marshals Service. She suggested these assets could serve as the foundation for a “Strategic Bitcoin Reserve,” with the potential for other assets to be converted into Bitcoin over time to strengthen this reserve.
Lummis mentioned that many of these measures could be executed under current presidential powers without the need for new legislation. Nonetheless, she argued for the establishment of a legal framework to ensure long-term stability:
“Legislating a strategic Bitcoin reserve is crucial because it cannot be easily eliminated by the policies of future presidents.”
The senator aims to amass 1 million Bitcoins—approximately 5% of the total supply—and retain them for two decades. According to Lummis, should this goal come to fruition, it has the potential to wipe out half of the national debt of the United States.
This is not investment advice!
