Cynthia Lummis' Bitcoin Reserve Legislation Gets Support From Riot Platforms Executive: 'I'm More Bullish On BTC For The Next 20 Years'
Portfolio Pulse from Aniket Verma
Senator Cynthia Lummis' proposed BITCOIN Act, which aims to strengthen the U.S. dollar and reduce national debt through a strategic Bitcoin reserve, has received support from Pierre Rochard, VP of Research at Riot Platforms. Rochard defended the legislation against common objections, emphasizing Bitcoin's fundamentals and its decentralized nature. 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 14, 2024 | 4:47 am
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Riot Platforms' VP of Research, Pierre Rochard, has publicly supported Senator Cynthia Lummis' BITCOIN Act, which could positively impact the company's stock due to its alignment with Bitcoin's strategic importance.
Riot Platforms is directly involved in the Bitcoin ecosystem. Support from its executive for a significant legislative proposal like the BITCOIN Act could enhance investor sentiment towards the company, potentially driving its stock price up.
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