1 days ago
Senator Cynthia Lummis has proposed the BITCOIN Act, which aims to establish a Strategic Bitcoin Reserve for the U.S. government. The bill outlines a five-year plan for the government to acquire up to 1 million Bitcoin (BTC), with a target of securing 200,000 BTC annually without imposing new taxes or creating budget deficits. Lummis emphasized that acquiring Bitcoin is a budget-neutral approach to managing national finances, suggesting that it could potentially halve the national debt in 20 years. She argued that while saving dollars represents a declining asset, saving Bitcoin represents a growing asset, highlighting its long-term value since inception. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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