Lummis: Bitcoin as a Vital Store of Value for Dollar
Senator Cynthia Lummis believes Bitcoin can enhance the US dollar's stability, suggesting it as a crucial reserve asset amid economic challenges.
Highlights:
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Senator Lummis advocates Bitcoin as a reserve asset.
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She proposes a strategic Bitcoin reserve managed by the Treasury.

US Senator Cynthia Lummis (R-WY) has made headlines with her bold assertion that Bitcoin could serve as a vital store of value to support the US dollar. During a recent Fox Business interview, she emphasized that "as the dollar declines in value, Bitcoin will grow in value," advocating for its inclusion as a reserve asset within the US financial system.
Lummis's remarks align with her ongoing efforts to promote Bitcoin's role in stabilizing the economy amid rising inflation and national debt. She believes that integrating Bitcoin into the US reserve could enhance the dollar's strength and maintain its global dominance. The senator has also introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, which aims to establish a strategic Bitcoin reserve managed by the US Treasury.

This initiative would involve purchasing up to one million Bitcoins, representing approximately 5% of the total supply, and ensuring robust protections for self-custody wallets. Lummis argues that this approach not only preserves individual financial freedoms but also positions the US as a leader in financial innovation.
Her comments reflect a growing bipartisan interest in cryptocurrency as a potential solution to economic challenges, with notable support from figures like former President Donald Trump, who has also expressed enthusiasm for Bitcoin's role in future monetary policy.
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