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What will be the key economic impact of the BITCOIN Act by December 31, 2025?
1
Resolution / Starting Odds
Reduced Debt • 25%
Increased Debt • 25%
No Significant Impact • 25%
Increase in Bitcoin Value • 25%
Economic reports or analyses from credible financial institutions
Story
Senator Lummis Proposes Bitcoin Bill to Buy 1 Million Bitcoin and Offset $16 Trillion U.S. Debt in Trump's First 100 Days
Nov 14, 2024, 06:11 PM
U.S. Senator Cynthia Lummis has expressed optimism regarding the passage of her proposed Bitcoin reserve bill, which could be enacted within the first 100 days of a potential second term for Donald Trump. Lummis highlighted bipartisan support for the legislation, which aims to establish a national Bitcoin reserve. She emphasized the urgency of the proposal, stating that the 'BITCOIN Act could be on POTUS’ desk ready to go within days.' The bill includes a plan for the Federal Reserve to sell a portion of its gold reserves to finance the acquisition of Bitcoin, positioning the digital currency as a modern alternative to traditional safe-haven assets. Lummis noted that this strategy would not increase the government deficit. Furthermore, the bill is projected to offset $16 trillion of U.S. government debt, according to Michael Saylor, a prominent figure in the cryptocurrency space.
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Passed and signed into law • 25%
Passed but vetoed • 25%
Failed to pass • 25%
Stalled in Congress • 25%
Below $80,000 • 25%
$80,000 to $100,000 • 25%
$100,000 to $120,000 • 25%
Above $120,000 • 25%
Majority Support • 33%
Majority Oppose • 33%
Evenly Split • 34%
Majority support • 25%
Majority oppose • 25%
Evenly split • 25%
Low awareness • 25%
Bitcoin remains top cryptocurrency • 25%
Bitcoin drops to 2nd place • 25%
Bitcoin drops to 3rd place • 25%
Bitcoin drops below 3rd place • 25%
Increase by over 50% • 25%
Increase by 20-50% • 25%
Increase less than 20% • 25%
No significant change • 25%
Increased foreign investment • 25%
Increased domestic investment • 25%
Increased financial inclusion • 25%
Other • 25%
Passed and implemented • 25%
Passed but not implemented • 25%
Not passed • 25%
Delayed decision • 25%
Increased Bitcoin adoption • 25%
Decreased Bitcoin adoption • 25%
Stable Bitcoin adoption • 25%
Indeterminate impact • 25%
Significant increase • 25%
Moderate increase • 25%
No significant change • 25%
Decrease • 25%