Senator Lummis Proposes Strategic Bitcoin Reserve for US Treasury

Plan to acquire 1 million BTC over five years faces skepticism from financial experts

Senator Cynthia Lummis aims to bolster US Treasury with a strategic reserve of 1 million BTC.
Former President Trump supports holding the US's seized bitcoin rather than selling it.
Experts raise concerns about the impact on commercial bank stability and the feasibility of the plan.
The proposal involves revaluing the Treasury's gold reserves to fund the bitcoin purchase.
Critics question whether holding bitcoin offers significant public benefit compared to other uses of funds.