Senator Lummis’s Bitcoin Reserve Bill Gains Significant Support
In a swift move, more than 2,200 letters were dispatched to U.S. senators within two days, urging support for Senator Cynthia Lummis’s proposed Strategic Bitcoin Reserve legislation.
Lummis thanked her supporters in a recent X post, highlighting the broad interest in the bill.
Dennis Porter from the Satoshi Action Fund noted that the letters were split among Democratic senators (1,333), Republicans (850), and Independents (41), showcasing widespread bipartisan enthusiasm for Bitcoin.
I cannot thank each of you who has sent a letter. https://t.co/8QyGApjSUH
— Cynthia Lummis 🦬 (@CynthiaMLummis) August 3, 2024
The Strategic Bitcoin Reserve bill, introduced on July 31, seeks to create a national Bitcoin reserve under the U.S. Treasury’s management.
READ MORE: Bitwise CIO Predicts Major Institutional Investment in Crypto ETFs This Year
The bill proposes acquiring up to 1 million Bitcoin, using current Treasury funds, to strengthen U.S. financial reserves with a decentralized asset.
This initiative could signal a significant shift in how the U.S. views Bitcoin, potentially influencing global cryptocurrency markets. Similar proposals have been voiced by independent presidential candidate Robert F. Kennedy Jr. and Republican nominee Donald Trump.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
