Cynthia Lummis Introduces Bill to Make BTC a Reserve Asset for the Fed
🇺🇸 US senator Cynthia Lummis has officially introduced a bill in the U.S. Senate proposing Bitcoin as a reserve asset for the Federal Reserve.
The bill, titled "The Bitcoin Innovation, Technology, and Competitiveness Act," aims to bolster innovation and competitiveness through strategic investments nationwide.
📜 Key Points:
▪️The U.S. government would need to purchase 5% of Bitcoin's total supply.
▪️A "Bitcoin Purchase Program" is introduced, allowing for up to 200,000 BTC to be acquired annually over 5 years.
▪️Establish a reserve fund with strict cybersecurity parameters.
▪️ U.S. states can voluntarily become custodians of BTC reserves.
📈 This bill, if passed, could significantly impact the crypto market and reinforce Bitcoin's position as a major financial asset in the long term.