Senator Lummis Proposes U.S. Government Purchase of 1 Million Bitcoin, Suggests Selling Federal Reserve Gold to Fund Acquisition

Senator Cynthia Lummis from Wyoming has a bold plan. She wants the U.S. government to buy 1 million Bitcoin. That’s nearly 5% of all the Bitcoin out there!

To fund this purchase, Lummis suggests selling some of the Federal Reserve's gold. This way, they can avoid adding to the national deficit. It’s a smart move, especially for a potential strategic Bitcoin stockpile.

At current prices, buying 1 million Bitcoin would cost around $90 billion. But keep in mind, if the bill gains traction, prices could rise as investors rush to buy before the government does.

Lummis believes there’s growing support for cryptocurrency in Washington. She sees a pro-crypto movement gaining momentum among lawmakers. It's an exciting time for Bitcoin enthusiasts!