Senator Lummis Proposes U.S. Bitcoin Reserve After Trump’s Victory

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Following Trump’s presidential win, Senator Cynthia Lummis renewed her push to establish a strategic Bitcoin reserve. Her BITCOIN Act of 2024 proposes the U.S. Treasury acquire 1 million Bitcoins over five years to strengthen financial stability, cut national debt by half by 2045, and position the U.S. as a leader in financial innovation. With Republicans controlling Congress, the proposal has gained momentum. Industry leaders like Michael Saylor support the plan, emphasizing Bitcoin’s potential as an inflation hedge and strategic asset, as Bitcoin recently hit a new high of $75,358.