Senator Cynthia Lummis thinks we should stash a Strategic Bitcoin Reserve to bail out our country from drowning in debt. ๐ฑ๐ฐ
She reckons it’s time to let the younger folks off the hook and get creative with our finances. ๐ฃ๐
The Great Bitcoin Reserve Debate
In a recent chat, Lummis spilled the beans about her plan to slash the $36 trillion debt in half using the magic of Bitcoin. ๐ฉโจ
She’s convinced that Bitcoin’s meteoric rise could prop up the good ol’ greenback and keep America’s economic throne warm. ๐บ๐ธ๐
“With Bitcoin backing the dollar and being a global trading ace up our sleeve, we’ve got the ultimate safety net. Plus, it’s a store of value that makes the Grinch green with envy,” Lummis quipped.
Bitcoin’s annual growth rate has been a whopping 55% historically. But Lummis expects it to chill out a bit, settling down to 45%, 35%, and so on. ๐…
Still, she’s betting on a $1 million Bitcoin stash today ballooning to half of our national debt in 20 years. And guess what? Robert F. Kennedy Jr. had a similar hunch. ๐ค…
“A Strategic Bitcoin Reserve could fix the financial fiasco my generation cooked up. It’s the one thing that could make a real dent in our debt,” she confessed.
On July 31, 2024, Lummis dropped the BITCOIN Act, calling for a 1 million Bitcoin reserve. She’s also the new kid on the block as chair of the Senate Banking Subcommittee on Digital Assets. ๐๏ธ…
Support for the Strategic Bitcoin Reserve is spreading like wildfire. 15 states are onboard, and Satoshi Action Fund’s Dennis Porter is singing its praises on X (Twitter’s new alias). ๐ฅ…
At least 11 states have Bitcoin bills in the pipeline, and Arizona and Utah are leading the pack with committee approvals. ๐…
Porter reports that over 3,300 letters have flooded Congress, urging them to embrace Bitcoin as part of a strategic stockpile. This follows President Trump’s EO for a “national digital asset stockpile,” sans mention of Bitcoin. ๐ฉ…
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2025-02-03 09:41