Pro-crypto Senator Cynthia Lummis plans to announce legislation for establishing a US Strategic Bitcoin Reserve at the Bitcoin 2024 conference in Nashville. Under this plan, the Federal Reserve would hold BTC as a strategic reserve asset, similar to how it holds gold and foreign currencies. Lummis is expected to make the announcement on Saturday before Trump speaks, but details have yet to be finalized.
Thursday, July 25, 2024Sen. Cynthia Lummis and former President Donald Trump have proposed creating U.S. bitcoin reserves, arguing that it could act as a buffer against market fluctuations.