Bitcoin

United States Senator Cynthia Lummis has <a href="https://twitter.com/SenLummis/status/1854208373740458432?t&#61;_gDECQOSb08laZZ_kPRC5A&amp;s&#61;19" rel="noopener noreferrer nofollow">reiterated</a> her plans to adopt Bitcoin as the country’s national reserve. Lummis’ proposal demands to make Bitcoin part of the country’s financial reserves along with traditional assets like gold. The proposal received support from leading industry players like Michael Saylor, co-founder of the technology company, MicroStrategy.<a href="https://cryptotale.org/michael-saylors-personal-btc-holdings-is-now-worth-over-1b/" rel="noopener noreferrer nofollow">Saylor</a> is well known for his positive stance on Bitcoin and his company holds billions of dollars in Bitcoin as part of its assets. Saylor took to social media to support Lummis&#39; proposal and he called it a smart move to help stabilize the U.S. economy and protect against financial risks.Lummis’ post comes shortly after the recent re-election of former President <a href="https://cryptotale.org/trump-win-forecasts-crypto-regulatory-clarity-ripple-ceo/" rel="noopener noreferrer nofollow">Donald Trump</a>. She believes that a Bitcoin reserve could act as a tool to protect the economy from inflation. However, the proposal is facing some challenges because of policy concerns and economic risks.The United States has traditionally relied on a gold reserve to support the dollar and stabilize the economy even today the country holds over 8000 metric tons of gold in reserve. Though Bitcoin&#39;s value would be far less than that of gold, Lummis proposes that a Bitcoin reserve could work as a modern addition to the country&#39;s reserve strategy.<a href="https://cryptotale.org/michael-saylor-backs-senator-lummis-btc-reserve-proposal/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Michael Saylor Backs Senator Lummis’ BTC Reserve Proposal

CryptoTale

Other articles published on Nov 7, 2024

Introducing Squarecrows: NFTs That Bridge The Digital and Physical Worlds

Neiro Ethereum (NEIRO) Surging Higher Following Major Breakout: Is A +150% Rally On Horizon?

Ethereum set for a ‘monster rally’ as price nears $2.9K

Goatseus Maximus (GOAT) Making a Strong Recovery Rally: Is a New ATH on the Horizon?

Uniswap Integrates Venmo & Ethereum Shows Stability While Plus Wallet Lets Users Benefit on Every...

Institutions are betting big on RWAs and expecting large returns

Join our free newsletter for daily crypto updates!