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Senator Lummis Introduces Strategic Bitcoin Reserve Proposal

Summary by Benzinga
Senator Cynthia Lummis (R-Wyo.) has introduced a proposal that would grant the Federal Reserve the authority to own Bitcoin (CRYPTO: BTC). What Happened: According to Lummis, this strategic initiative aims to create a “Strategic Bitcoin Reserve,” where the U.S. government would purchase 200,000 Bitcoins annually for five years, holding them for at least two decades. This reserve would serve dual purposes: to back the U.S. dollar, the world’s res…

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Bitcoin.com broke the news in on Wednesday, December 18, 2024.
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