16 Proposed - Strategic Bitcoin Reserve Act of 2024 (www.congress.gov) 🧐 Research Wanted 🤔 posted 49 days ago by bubble_bursts 49 days ago by bubble_bursts +16 / -0 7 comments share 7 comments share save hide report block hide replies
This legislation is proposed by Republican Senator from Wyoming, Cynthia Lummis. https://www.lummis.senate.gov/press-releases/lummis-announces-revolutionary-proposal-to-supercharge-the-dollar-bolster-u-s-economy/ ____ 1) If bill passes Congress and signed into law, the Treasury of the US would purchase 5% of Bitcoin and assuming they would hold it for a long period of time, a) this would establish Bitcoin as a reserve asset and b) would act as a floor and support for the price of Bitcoin (my assessment). ____2) Senate update on bill’s status in committee hearing: https://www.lummis.senate.gov/legislation/sponsored_legislation/