SENATOR CYNTHIA LUMMIS to build a strategic BTC reserve
The feeling in the country has changed dramatically in the past 24-hours. So what's changed? Trump was reelected to be the 47th President of the United States. During his campaign, Trump promised to fire SEC Chairman Gary Gensler and create a friendlier regulatory framework for Bitcoin and other digital assets. That's a game changer for certain!
Back in July Senator Cynthia Lummis (R-WY) (AKA Crypto Queen) proposed for the USA to create a BTC reserve to help stabilize our badly abused financial system.
Why this is important?
The world has been ravaged by inflation due in part to US fiscal irresponsibility, its time to right this ship and retain US $ supremacy thru sound financial backing. Senator Lummis deserves a lot of credit. Looking forward to her team leading the charge in 2025 to secure the future of Bitcoin in the USA. Additionally, in the past 24-hours Bitcoin flipped $META in market cap!
Whose up next? Well its our friend Silver (SLV). How long before that aged asset is passed up as well?
An uphill battle for the next 2-years
For certain this will not take place overnight, many suspect it will take 2-years to get off the ground. What percentage of the US debt would be the first to get assigned to BTC reserves? This is important to understand the timeline up front but know proactive solutions are being developed.
Open Questions in my mind
- Wondering IF she and her team will fly to El Salvador to talk about lessons learned with Nayib Bukele?
- Such as buying BTC directly from miners instead of on open market to get better pricing!
- Will this new commission stop the US Government from openly selling seized BTC and other cryptos and place them in the BTC reserve?
- Ex. would it include new Global Dollar Stablecoin?
- How will the SEC and CFTC regulatory frameworks be dismantled in place of truly open and beneficial for all citizens?
- Will they reach out to top talent such as Michael Saylor and other well known Crypto enthusiasts to allow us to leap frog from years of staid policies and outright negligence?
- Will the public have a chance to weigh in on the new frameworks?
- Will AI be playing a roll in buying and selling decisions?
- If Trump gets his massive Tariffs could/would they be paid in BTC?
Summary
January 2025 will usher in massive changes here in the USA. Very much looking forward to Senator Lummis laying out her vision for BTC reserves and keeping the populace updated on the framework and progress.
Credits - Blog pic freedombunker.com and blog inset pic cointribune.com - all rights remain!
