Bitcoin is the one resolution to america’ $36 trillion debt, Senator Cynthia Lummis (R-WY) stated whereas selling the BITCOIN Act in an X publish on Friday.
Senator Cynthia Lummis Promotes The BITCOIN Act
“I’m notably happy with President Trump’s assist of my Strategic Bitcoin Reserve initiative, which is able to handle our nationwide debt whereas securing America’s place as the worldwide chief in monetary innovation,” the Republican senator stated in a video shared on social media.
The BITCOIN Act is the one resolution to our nation’s $36T debt. I’m grateful for a forward-thinking president who not solely acknowledges this, however acts on it. pic.twitter.com/NVWH6v2EcH
— Senator Cynthia Lummis (@SenLummis) Might 2, 2025
Launched by Lummis and Congressman Nick Begich (R-AK) in March on the Bitcoin for America Summit, the proposed laws would see the creation of a federal Bitcoin reserve in a bid to make the U.S. the chief in digital asset applied sciences.
Lummis additional alleged that large-scale adoption of Bitcoin can be “transformative” and put “the on a regular basis employee all around the world in command of their cash.”
“As Bitcoin comes into extra utilization, its use makes the entire system safer, extra sturdy, and extra able to serving our wants all around the world,” she added. “We ought to be the worldwide chief with this unbelievable, new ledger-based asset that’s in a digital format.”
The U.S. Head In direction of A Strategic Bitcoin Reserve
Proponents of a Strategic Bitcoin Reserve broadly imagine that it will place the U.S. as a technologically forward-looking world energy whereas performing as a hedge towards conventional monetary issues.
Trump largely campaigned on enacting a crypto-friendly regulatory framework, promising to make the U.S. the “crypto capital of the world.”
In March, Trump signed an govt order mandating the event of a Strategic Bitcoin Reserve and digital asset stockpile.
“I’m very constructive and open-minded to cryptocurrency corporations, and all issues associated to this new and burgeoning trade,” he stated. “Our nation should be the chief within the subject.”
As of Friday afternoon, Bitcoin continued to expertise a slight surge in worth, hovering round $97,000.
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