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Will the US Congress pass the S.4912 Bitcoin Act by the end of 2024?
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Cynthia Lummis•Bitcoin Act•Bitcoin•US•Congress•Lummis•US Treasury•Strategic Bitcoin Reserve•Satoshi Act Fund•Fort Knox
Resolution / Starting Odds
Yes • 50%
No • 50%
Official voting records from the US Congress
Story
Senator Lummis Introduces S.4912 Bitcoin Act to Buy 1M Bitcoin Over 5 Years and Cut US Debt by $16 Trillion
Nov 17, 2024, 05:34 PM
Senator Cynthia Lummis has introduced S.4912, the 'Bitcoin Act of 2024,' which proposes the purchase of 1 million Bitcoin over five years. The bill aims to cut the US national debt by $16 trillion and is now up for a vote in Congress. Lummis, a known advocate for Bitcoin, also urged the US Treasury to convert part of its gold holdings into Bitcoin to create a Bitcoin strategic reserve, maintaining a neutral effect on the government’s balance sheet. The 'Strategic Bitcoin Reserve' model policy has been open-sourced by the Satoshi Act Fund and has received endorsements from multiple lawmakers and a presidential candidate. The reserve is envisioned as a digital Fort Knox to support and backstop the US dollar.
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Approved without amendments • 25%
Approved with amendments • 25%
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