SENATOR LUMMIS CLAIMS TRUMP SUPPORTS 1M BITCOIN STRATEGIC RESERVE BILL!

Senator Cynthia Lummis announced that Donald Trump supports her Bitcoin Act, which proposes accumulating 1 million Bitcoins as a strategic reserve for the US government. This move aims to position the US as a global leader in financial innovation while addressing the country's substantial national debt of $36 trillion.

Key Points:

Bitcoin Reserve Proposal: The US government would acquire 1 million Bitcoins over five years, making it the largest single holder of Bitcoin.

Current Holdings: The US government currently holds around 198,000 BTC, mostly from seized assets, valued at approximately $19 billion.

Cost Implications: Acquiring 1 million BTC would require around $76 billion at current prices, potentially driving up the price due to Bitcoin's relatively illiquid supply.

Benefits: Senator Lummis believes a Bitcoin reserve would benefit ordinary Americans, putting them in control of their money and securing America's position in financial innovation.

The announcement has sparked interest in Bitcoin, with the cryptocurrency's price surging past $96,000 and predictions of reaching $100,000. The proposed Bitcoin reserve could have significant implications for the US economy and the global financial landscape .$BTC #MarketPullback