Sen. Lummis proposes US government purchase 5% of total Bitcoin supply
The pro-crypto Senator introduced the Bitcoin Reserve Bill while declaring “this is the solution, this is the answer, this is our Louisiana purchase moment, thank you Bitcoin!”
United States Senator Cynthia Lummis has introduced a bill proposing that the US government buy 5% of the world’s Bitcoin supply and hold it for at least 20 years.
“It can be used for one purpose, to reduce our debt,” Lummis declared during her keynote speech at the Bitcoin 2024 Conference on July 27 in Nashville, Tennessee.
Lummis explained that, if passed, the plan will take place over five years with the aim of the US government acquiring one million Bitcoin (BTC), roughly 5% of the total supply of 21 million Bitcoin.
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Author: Ciaran Lyons
