Ark Invest’s Cathie Wood Joins Call For Strategic Bitcoin Reserve, Gives Thumbs Up To Cynthia Lummis’ Plan
Posted On November 7, 2024
Cathie Wood, the founder of asset management giant Ark Invest, supported Sen. Cynthia Lummis’ (R-Wyo.) call to establish a U.S. strategic Bitcoin (CRYPTO: BTC) reserve.
What happened: On Tuesday, Wood reshared an X post by the Republican senator promising to make the ambitious proposal a reality.
It was Lummis who proposed the legislation, called the BITCOIN Act, to create a strategic reserve in Bitcoin to support America’s balance sheet and address its mounting debt.
The bill outlines a $1 million purchase program to acquire 5% of Bitcoin’s total supply over five years, with a minimum holding period of …
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