Senator Lummis Announces US Strategic Bitcoin Reserve, Plans to Buy 1M Bitcoins

Nov 6, 2024, 12:24 PM

Senator Cynthia Lummis has announced that the United States will establish a Strategic Bitcoin Reserve. This initiative has been endorsed by the Bitcoin Policy Institute and is seen as a move to strengthen the US dollar. Former President Donald Trump has also pledged support for the establishment of a National Strategic Bitcoin Reserve, which could encourage other nations to follow suit. The plan aims to position Bitcoin as a strategic asset for the country, potentially making it one of the most significant economic events in US history. The US government plans to buy 1M Bitcoins as part of this initiative.