crypto.news 2025-05-02 18:38:30

Senator Lummis claims Trump supports 1M Bitcoin strategic reserve bill

Sen. Lummis stated that Donald Trump supports her BITCOIN Act, which would mandate that the government accumulate 1 million Bitcoins. Bitcoin strategic reserve could soon become a reality. On a Friday, May 2 speech to the U.S. Senate, Senator Cynthia Lummis stated that U.S. President Donald Trump supports her BITCOIN Act . The BITCOIN Act is the only solution to our nation’s $36T debt. I’m grateful for a forward-thinking president who not only recognizes this, but acts on it. pic.twitter.com/NVWH6v2EcH — Senator Cynthia Lummis (@SenLummis) May 2, 2025 I’m particularly pleased with President Trump’s support for my strategic Bitcoin reserve initiative, which will address our national debt, while securing America’s position as the global leader in financial innovation,” Senator Cynthia Lummis stated. You might also like: Bitcoin surges past $96k as institutional appetite grows Bitcoin puts American workers first: Lummis In the same speech, Lummis defended Bitcoin’s security while also expressing her view that a Bitcoin reserve would benefit ordinary Americans. Notably, Lummis stated that Bitcoin puts “the everyday American and the everyday worker all over the world in control over their own money.” As Bitcoin comes into more usage, its use makes the whole system more secure, more robust, and more capable of serving our needs all over the world. We should be the global leader,” Lummis. The act, which Lummis proposed in the Senate, mandates the U.S. government to acquire 1 million Bitcoins (BTC) over five years. This acquisition would make the U.S. government the largest single holder of Bitcoin, which has a capped supply of 21 million. You might also like: Senator Lummis blasts the Fed: Anti crypto bias persists, despite ‘lip service’ Currently, the U.S. government holds about 198,000 BTC, mostly from seized assets, with a combined value of $19 billion. At current prices, the U.S. would need to invest around $76 billion in BTC to reach the 1 million BTC target. However, prices are unlikely to remain stable, as markets would likely see this move as a major bullish signal. The relatively illiquid supply of Bitcoin, compared to traditional assets, means that Bitcoin’s price would likely rise significantly once the acquisition starts. U.S. would also have to compete with Bitcoin giants such as Strategy, which has announced plans to invest $84 million in BTC. You might also like: Senator proposes replenishing Bitcoin reserves with gold: Here’s how it will work

La maggior parte ha letto le notizie

Immutable zkEVM Transactions Rise 5.7% in Q1...
2025-05-03
Ripple’s Chief Legal Officer Explains Why the...
2025-05-03
Bitcoin, XRP, Ethereum & Solana—Top 4 for Bui...
2025-05-03
Shiba Inu Community Boosts Digital Payments w...
2025-05-03
Ethereum and Bitcoin Fuel Market Optimism—Alt...
2025-05-03
Ivy League Institution Brown Follows in UATX...
2025-05-03
Hyperliquid: Whales, retail exit – Can HYPE f...
2025-05-03
Avalanche (AVAX) Price Prediction: Could it R...
2025-05-03

Notizie correlate

Kraken Surges in Q1 2025 With 19% Revenue Growth a...
03 May 2025
Solana Leads in DEX Volume for Seventh Straight Mo...
03 May 2025
Strategy Doubles Down on Bitcoin With $21B Offerin...
03 May 2025
Eric Trump Champions Crypto at Token2049: Launches...
03 May 2025
Ostium’s Meteoric TVL Growth Signals Rising Demand...
03 May 2025
Stablecoin Market Shifts in April: Exchange Balanc...
03 May 2025

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta