Part 5/7:
Recently, Senate Republicans have been drafting legislation, namely the Bitcoin Act proposed by Senator Cynthia Lummis, which aims to establish a federal Bitcoin reserve by utilizing taxpayer funds. The plan proposes that the government buy up significant quantities of Bitcoin and establish secure holdings, an action that critics denounce as a blatant attempt to bailout wealthy cryptocurrency holders.
This proposed legislation is seen as a reckless endeavor to convert speculative assets into liquid cash at the expense of taxpayers. By leveraging public funds to acquire an asset that primarily benefits a select few wealthy individuals, a massive financial heist is suspected, with implications suggesting a severe risk to public funds.