Cynthia Lummis Unveils Strategic Bitcoin Reserve Legislation: 'This Is Our Louisiana Purchase Moment'
Portfolio Pulse from Aniket Verma
Senator Cynthia Lummis introduced the BITCOIN Act to establish a U.S. strategic Bitcoin reserve, aiming to strengthen the U.S. dollar and address national debt. The bill proposes a $1 million purchase program to acquire 5% of Bitcoin's total supply over five years, with a minimum holding period of 20 years.
August 01, 2024 | 1:36 am
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The introduction of the BITCOIN Act by Senator Cynthia Lummis aims to establish a U.S. strategic Bitcoin reserve, potentially increasing demand for Bitcoin. The bill includes a $1 million purchase program to acquire 5% of Bitcoin's total supply over five years.
The BITCOIN Act proposes significant government investment in Bitcoin, which could drive up demand and potentially increase its price. The strategic reserve and long-term holding period signal strong institutional support.
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