Senator Lummis Proposes Strategic Bitcoin Reserve Funded by Gold Revaluation

The BITCOIN Act aims to bolster the U.S. economy by purchasing 1 million BTC over five years, with funding sourced from Federal Reserve gold certificates.

The legislation, introduced by Senator Cynthia Lummis, seeks to create a U.S. strategic Bitcoin reserve to strengthen the dollar and address national debt.
The plan includes a $1 million purchase program to acquire 5% of the total Bitcoin supply, held for a minimum of 20 years.
Funding will come from revaluing Federal Reserve gold certificates and diversifying Federal Reserve and Treasury funds.
Former President Donald Trump supports the initiative, advocating for a national Bitcoin stockpile during a recent conference.
Critics, including economist Paul Krugman, argue the plan is a government bailout of the cryptocurrency industry.