Trump’s Surprising Backing: 1M Bitcoin Reserve Bill Sparks Senate Debate

Trump Backs Lummis’ BITCOIN Act: A Strategic Reserve for the U.S.

Senator Cynthia Lummis announced that President Donald Trump supports her BITCOIN Act. This act aims to make the U.S. government accumulate 1 million Bitcoins over five years.

Lummis believes this move will tackle the nation’s $36 trillion debt. “I’m thrilled that our president sees the potential in bitcoin,” she saeid. “It’s a step towards financial innovation and stability.”

The senator also highlighted Bitcoin’s benefits for everyday Americans. “Bitcoin empowers people to control their money,” Lummis explained. “As more people use it,the system becomes more secure and robust.”

Currently, the U.S. holds about 198,000 BTC, worth $19 billion. To reach the 1 million BTC goal, the government would need to invest around $76 billion. However, Bitcoin’s price could rise due to this notable demand.

Other entities, like Strategy, are also investing in Bitcoin. they plan to spend $84 million on BTC. This competition could further drive up Bitcoin’s price.

Lummis’ BITCOIN Act could make the U.S. the largest Bitcoin holder. This move could signal a major shift in the global financial landscape.