Senator Cynthia Lummis (R-WY) Pushes for US Strategic Bitcoin Reserve

In an interview with Bitcoin commentator Natalie Brunell, Senator Cynthia Lummis (R-WY) reaffirmed her commitment to establishing a US Strategic Bitcoin Reserve (SBR), disclosing that the Treasury Department is probing its legal authority to purchase and custody BTC on behalf of the federal government.

Senator Cynthia Lummis (R-WY) is known for her strong advocacy of Bitcoin and other digital assets. Recently, in an interview with Bitcoin commentator Natalie Brunell, Lummis provided an update on her initiative to create a US Strategic Bitcoin Reserve (SBR).

The senator explained that her team, in cooperation with the Treasury Department, is examining the legal authority of the administration to purchase and hold BTC on behalf of the federal government. Lummis believes that such a move could have a significant impact, reducing the national debt in the long run.

Senator Lummis's interest in a Bitcoin reserve is not new. Previously, she introduced the "Lummis Bitcoin Act," which aimed to establish a framework for a 1 million BTC reserve over a five-year period. This reserve would be funded by revaluing US gold certificates to their current market price and using the gains to purchase BTC.

The senator believes that holding this Bitcoin reserve for 20 years could cut the current national debt in half. She also highlighted the potential for significant gains to taxpayers from the price appreciation of BTC, which is a main argument for her proposal.

Senator Lummis's efforts to create a strategic Bitcoin reserve are part of a broader trend in the cryptocurrency space. Recently, President Trump signed two executive orders focused on digital assets, aiming to make the United States the "digital asset capital of the world." These orders will foster an environment for BTC mining, provide regulatory clarity for digital assets, and lay the groundwork for a strategic reserve.

This focus on Bitcoin stands in contrast to prior administrations, who Lummis claims "people neither knew nor wanted to talk about digital assets." However, Lummis emphasizes the need for bipartisan collaboration in this effort.

While Bitcoin has now become a topic of interest among Republicans, Lummis suggests that it should not become a strictly partisan issue. She hopes to keep the momentum going with the help of Democrats as well.

Lummis's advocacy for Bitcoin and her efforts to create a strategic reserve could have a significant impact on the cryptocurrency market and the US economy as a whole.

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