Donald Trump

Bitcoin

Reserve

<p><strong>Key Points:</strong></p>  
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 <li><em>Senator Cynthia Lummis outlined the Strategic Bitcoin Reserve, which will sell part of the Fed's gold reserves to fund the purchase of Bitcoin.</em></li>  
 <li><em>The proposal has gained traction following President-elect Donald Trump’s comments supporting a national Bitcoin reserve.</em></li> 
</ul>  
<h5 class="wp-block-heading">US Senator Cynthia Lummis has now <a href="https://x.com/CynthiaMLummis/status/1859628298168320330" rel="noopener noreferrer nofollow">presented</a> the Strategic Bitcoin Reserve plan, aimed at using some of the Federal Reserve's gold holdings to create a national Bitcoin reserve.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/On-White-30.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/On-White-30-1024x576.jpg" alt="Strategic Bitcoin Reserve Driven by 5-Year Commitment to Buy BTC" class="wp-image-293277"></a>
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<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/286260-senator-lummis-urges-bitcoin-reserve/" target="_blank" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/wp-admin/post.php?post=286260&amp;action=edit" rel="noopener noreferrer nofollow">Senator Lummis Urges Bitcoin Reserve to Fix Treasury’s Critical Value Gap</a></p>  
<h2 class="wp-block-heading" id="senator-lummis-outlines-strategic-bitcoin-reserve-plan">Senator Lummis Outlines Strategic Bitcoin Reserve Plan</h2>  
<p>The <a href="https://coincu.com/270692-the-strategic-bitcoin-reserve-bill-is-announced/" target="_blank" rel="noopener noreferrer nofollow">proposal</a>, which was initially <a href="https://coincu.com/269739-senator-cynthia-lummis-proposes-bitcoin-bill/" target="_blank" rel="noopener noreferrer nofollow">unveiled</a> in July, gained traction after President-elect Donald Trump hailing cryptocurrency via Twitter and fresh off of an election victory.</p>  
<p>The Strategic Bitcoin Reserve plan calls for selling off a portion of the Federal Reserve's gold reserves to fund a $1 million program to buy 5% of all outstanding Bitcoin over five years. Bitcoin bought through the plan would be held for at least 20 years, to underline the virtual currency as a long-term financial asset.</p>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/image-313-1.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/image-313-1-768x1024.jpg" alt="" class="wp-image-293275"></a>
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  Strategic Bitcoin Reserve plan. <em>Image source: <a href="https://x.com/Bitcoin/status/1859362671612788907" rel="noopener noreferrer nofollow">Bitcoin</a></em>
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<p><a href="https://coincu.com/269504-senator-cynthia-lummis-proposes-68b-btc-reserve/" target="_blank" rel="noopener noreferrer nofollow">Lummis</a>, who is a Republican senator, believes this move can be considered one that modernizes the financial strategy of the United States while reducing dependence on legacy reserves.</p>  
<p>Trump's public support for the idea of a <a href="https://coincu.com/291759-bitcoin-reserve-strategy-expected-to-be-approved/" target="_blank" rel="noopener noreferrer nofollow">Strategic Bitcoin Reserve</a> has strengthened confidence in the bill's likely passage. Interest in state initiatives by his administration has also sparked conversation regarding similar proposals among states.</p>  
<h2 class="wp-block-heading" id="states-and-institutions-support-plan-for-strategic-bitcoin-reserve">States and Institutions Support Plan for Strategic Bitcoin Reserve</h2>  
<p>Most recently, Pennsylvania <a href="https://coincu.com/292189-pennsylvania-proposes-a-bitcoin-reserve/" target="_blank" rel="noopener noreferrer nofollow">unveiled</a> the Bitcoin Strategic Reserve Act, championed by the Satoshi Action Fund, a group that has been on the front lines of drafting the Bitcoin Rights bill. For now, the organization said it is in discussions with ten other states considering similar legislation.</p>  
<p>Meanwhile, the idea has gained traction among institutional players, with BlackRock, a world-leading asset manager favouring the establishment of a U.S. Strategic Bitcoin Reserve. Crypto industry executives, such as MicroStrategy's CEO Michael Saylor, also demonstrated confidence in the outlook for the sector during Trump's presidency.</p>  
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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</figure>  <a href="https://coincu.com/?p=293272" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

Strategic Bitcoin Reserve Driven by 5-Year Commitment to Buy BTC

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