{"id":3929,"date":"2024-07-29T04:14:10","date_gmt":"2024-07-29T04:14:10","guid":{"rendered":"https:\/\/cryptd.in\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\/"},"modified":"2024-07-29T04:14:10","modified_gmt":"2024-07-29T04:14:10","slug":"senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd","status":"publish","type":"post","link":"https:\/\/cryptd.in\/ja\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\/","title":{"rendered":"Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD"},"content":{"rendered":"

The proposal came during a speech by the Republican representative for Wyoming at the Bitcoin 2024 Conference in Nashville on July 27.<\/p>\n

\u201cWe can create a brighter future for generations of Americans by diversifying into Bitcoin and being the first developed nation to create a strategic reserve,\u201d she said.<\/p>\n

US Bitcoin Reserve<\/h2>\n

The pro-crypto politician \u524d\u8a18<\/a> that such a reserve would fortify the dollar\u2019s position as the global reserve currency.<\/p>\n

\u201cEstablishing a strategic Bitcoin reserve would firmly secure the dollar\u2019s position as the world\u2019s reserve currency into the 21st century and ensure we remain the world leader in financial innovation,\u201d<\/p>\n

We can create a brighter future for generations of Americans by diversifying into #\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3<\/a> and being the first developed nation to create a strategic reserve. Read more pic.twitter.com\/1cWAssvZIW<\/a><\/p>\n

\u2014 Senator Cynthia Lummis (@SenLummis) July 27, 2024<\/a><\/p>\n\n

Lummis added that families across the US are struggling to keep up with soaring inflation rates and record-breaking costs while national debt reaches unprecedented levels.<\/p>\n

\u201cNow more than ever, we need to create a brighter future for generations of Americans by diversifying into Bitcoin and securing our economic future.\u201d<\/p>\n

The legislation would establish a decentralized network of secure Bitcoin vaults operated by the Department of Treasury and implement a 1-million-unit BTC purchase program over a set period of time \u201cto acquire a total stake of approximately 5% of total Bitcoin supply, mirroring the size and scope of gold reserves held by the United States.\u201d<\/p>\n

This works out to approximately 986,605 BTC worth around $67 billion at current prices.<\/p>\n

Senator Lummis is not the first politician to suggest a Bitcoin reserve. At the same conference, Donald Trump said that, if elected, his government would keep 100% of all the BTC it holds, which would become part of its reserve strategy.<\/p>\n

\u201cThis will serve in effect as the core of a strategic national Bitcoin stockpile,\u201d<\/p>\n

Trump also said<\/a> that under him, \u201cThe United States will be the crypto capital of the planet and the Bitcoin superpower of the world.\u201d<\/p>\n

The US government currently holds 213,238 BTC worth around $14.5 billion, according<\/a> to Arkham Intelligence. However, on-chain movements and the potential to liquidate it often cause market volatility.<\/p>\n

Trump also said that if he gets elected, the \u201cJoe Biden and Kamala Harris anti-crypto crusade will be over,\u201d before adding, \u201cThe weaponization against your industry ends.\u201d<\/p>\n

BREAKING: Donald Trump announces that he will create a US government #\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3<\/a> strategic reserve if elected president.<\/p>\n

This would be a stockpile of Bitcoin similar to the Strategic Petroleum Reserve.<\/p>\n

If this happens, it could be the biggest development in crypto history. pic.twitter.com\/kGnEdZ94Lx<\/a><\/p>\n

\u2014 The Kobeissi Letter (@KobeissiLetter) July 27, 2024<\/a><\/p>\n\n

Big Bitcoin Purchases Planned<\/h2>\n

Independent presidential candidate Robert F. Kennedy Jr. also pledged to sign an executive order directing the US treasury to purchase 550 bitcoins daily until the reserve holds 4 million BTC.<\/p>\n

He aims to have the US BTC reserve in the same proportion<\/a> as its gold holdings, which is currently around 19% of global reserves.<\/p>\n

\u201cThe cascading impact from these actions will eventually move Bitcoin to a valuation of hundreds of trillions of dollars,\u201d he added.<\/p>\n

The Republicans are pushing for the crypto vote leading up to the election in November and the Democrats have been absent so far with presidential candidate Kamala Harris not attending<\/a> the conference.<\/p>\n

\u30dd\u30b9\u30c8 Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD<\/a> \u306b\u521d\u767b\u5834\u3057\u305f\u3002 \u30af\u30ea\u30d7\u30c8\u30dd\u30c6\u30c8<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The proposal came during a speech by the Republican representative for Wyoming at the Bitcoin 2024 Conference in Nashville on July 27. \u201cWe can create a brighter future for generations of Americans by diversifying into Bitcoin and being the first developed nation to create a strategic reserve,\u201d she said. US Bitcoin Reserve The pro-crypto politician said that such a reserve would fortify the dollar\u2019s position as the global reserve currency. \u201cEstablishing a strategic Bitcoin reserve would firmly secure the dollar\u2019s position as the world\u2019s reserve currency into the 21st century and ensure we remain the world leader in financial innovation,\u201d We can create a brighter future for generations of Americans […]<\/p>\n","protected":false},"author":0,"featured_media":3930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25],"class_list":["post-3929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-bitcoin"],"yoast_head":"\nSenator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/ja\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\/\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The proposal came during a speech by the Republican representative for Wyoming at the Bitcoin 2024 Conference in Nashville on July 27. \u201cWe can create a brighter future for generations of Americans by diversifying into Bitcoin and being the first developed nation to create a strategic reserve,\u201d she said. US Bitcoin Reserve The pro-crypto politician said that such a reserve would fortify the dollar\u2019s position as the global reserve currency. \u201cEstablishing a strategic Bitcoin reserve would firmly secure the dollar\u2019s position as the world\u2019s reserve currency into the 21st century and ensure we remain the world leader in financial innovation,\u201d We can create a brighter future for generations of Americans […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/ja\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-29T04:14:10+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593\" \/>\n\t<meta name=\"twitter:data1\" content=\"3\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD\",\"datePublished\":\"2024-07-29T04:14:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/\"},\"wordCount\":569,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Cynthia_lummis_cover-1lGLGs.jpeg\",\"keywords\":[\"#Bitcoin\"],\"articleSection\":[\"Feeds\"],\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/senator-lummis-proposes-67b-strategic-bitcoin-reserve-to-back-usd\\\/\",\"name\":\"Senator Lummis Proposes $67B Strategic Bitcoin Reserve to Back USD - 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