Bitcoin Reserve Can Potentially Secure U.S. Superpower Status
- Trump Can Potentially Secure U.S. Superpower Status For The Century To Come With Bitcoin Reserve
A Bitcoin Reserve would change everything. The U.S. government is close to securing its status as global superpower thanks to President Donald Trump’s open-mindedness about a Bitcoin Reserve. The Republican Party seems to be generally on board.
One of the most noteworthy steps towards that direction happened when Sen. Cynthia Lummis of Wyoming proposed a strategic Bitcoin reserve by selling Federal Reserve gold in her proposed bill, The BITCOIN Act, short for Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide.
Lummis plans to introduce the bill when Congress begins their 2025 session. The bill outlines a plan to purchase 1 million Bitcoin, which encompasses nearly 5 percent of the Bitcoin supply.
The purchases would cost $90 billion at current Bitcoin prices. The sum could increase, however, as other governments front-run the U.S. purchases.
“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in an interview with Bloomberg. “So the effect on the US balance sheet is pretty neutral.”
The bill requires the Treasury Secretary to set up a decentralized network of secure Bitcoin storage facilities distributed across the United States, called the Strategic Bitcoin Reserve for the cold storage of government Bitcoin holdings.
“Just as gold reserves have …
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