Vision

Bitcoin

mirror

Reserve

Bold

<ul class="wp-block-list">
 <li>Senator Lummis seeks to create a national Bitcoin reserve with bipartisan support and Trump’s backing.</li>  
 <li>The bill proposes acquiring one million BTC to strengthen U.S. financial influence.</li>  
 <li>Supporters believe the proposal could pass within Trump’s first 100 days in office.</li> 
</ul>  
<p>Senator Cynthia Lummis believes her proposal to create a national <a href="https://cryptonewsland.com/khanna-advocates-for-bitcoin-reserves-over-gold/" rel="noopener noreferrer nofollow">Bitcoin reserve</a> has a good chance of passing. The bill, introduced in July, could make the U.S. a leader in the Bitcoin market. With growing bipartisan support and Donald Trump’s backing, Lummis feels confident that the bill will pass within the first 100 days of Trump’s second term. Could the U.S. soon become the largest government Bitcoin holder?</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/BitcoinMagazine/status/1856306591563149525
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-a-bold-vision-for-bitcoin">A Bold Vision for Bitcoin</h2>  
<p><a href="https://cryptonewsland.com/senator-cynthia-lummis-urges-u-s-to-consider-bitcoin-reserves-for-dollar-stability/" rel="noopener noreferrer nofollow">Senator Lummis</a> wants to use funds from the Federal Reserve and Treasury Department to buy one million bitcoins. If successful, the U.S. would own around 5% of the total Bitcoin supply. This would mirror the country’s position in global gold reserves.</p>  
<p>The proposal also calls for a Bitcoin reserve with secure vaults managed by the Treasury Department. These vaults would protect Bitcoin ownership and ensure the asset stays safe. The bill has faced some delays in the Senate, but Lummis remains hopeful.</p>  
<p>She believes bipartisan support, combined with public backing, could push the bill forward. Trump’s support for Bitcoin also strengthens her optimism. David Bailey, a supporter of Trump’s Bitcoin policies, has stressed that a national Bitcoin reserve should be a priority during Trump’s first 100 days in office.</p>  
<h2 class="wp-block-heading" id="h-broad-support-across-political-lines">Broad Support Across Political Lines</h2>  
<p>The <a href="https://www.congress.gov/bill/118th-congress/senate-bill/4912" rel="noopener noreferrer nofollow">Bitcoin reserve bill</a> has garnered support from both Republicans and Democrats. Democratic Representative Ro Khanna recently voiced his backing, seeing Bitcoin as an opportunity for the Federal Reserve to improve U.S. financial systems.</p>  
<p>Matthew Sigel, Head of Digital Assets Research at VanEck, agrees. He believes a national Bitcoin reserve could strengthen U.S. influence in energy, AI, and decentralized finance.Sigel also mentioned that the U.S. could repurpose more than 200,000 BTC while mining additional coins through public-private partnerships.</p>  
<p>The success of this Bill could lead to new opportunities for frontier cities, all without significant risk. As the bill continues to gain momentum, advocates remain hopeful that the U.S. will embrace Bitcoin as a cornerstone of the nation’s financial future.</p>   
<p>The post <a href="https://cryptonewsland.com/senator-lummis-hopeful-bitcoin-reserve-bill-passes/" rel="noopener noreferrer nofollow">Senator Cynthia Lummis Optimistic About Bitcoin Reserve Bill Passing in Trump’s First 100 Days</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Senator Cynthia Lummis Optimistic About Bitcoin Reserve Bill Passing in Trump’s First 100 Days

Table of Contents

Crypto News Land

Other articles published on Nov 12, 2024

Polymarket Predicts 78% Chance of Bitcoin Reaching $100K by Year-End

Golden age is coming: Over 250 pro-crypto candidates enter Congress

Can Ethereum Reach $6000 as $1.59B Shorts Face Liquidations?

BounceBit’s Launches CeDeFi V2; Aims to Simplify Cross-Chain Investments

Michael Saylor Issues Bitcoin "Space Travel" Tweet As BTC Gets Close to $90,000

Google Cloud ZetaChain Collaboration Secures Web3 Universal Apps

Join our free newsletter for daily crypto updates!