Share this article
Senator Lummis Proposes the U.S. Buy 1M Bitcoin to Reduce National Debt
The Wyoming senator brought a copy of her legislation to the stage at the Bitcoin Conference in Nashville.
Updated Jul 28, 2024, 1:33 a.m. Published Jul 27, 2024, 9:11 p.m.
NASHVILLE — U.S. Senator Cynthia Lummis plans to introduce legislation calling for a "strategic bitcoin reserve" that will reduce the national debt of the United States by buying 1 million bitcoin over the course of five years.
The bitcoin would be held for at least 20 years, she said.
STORY CONTINUES BELOW
"This is the solution. This is the answer. This is our Louisiana purchase moment,” the Wyoming senator said on stage after former President Donald Trump spoke and endorsed the idea of a bitcoin reserve.
At current prices, 1 million bitcoin are worth about $68 billion.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Argentina’s Central Bank to Allow Banks to Provide Crypto Services in 2026
Argentina’s central bank is reportedly drafting new rules to allow banks to offer customers digital asset-related services as early as April 2026.
What to know:
- The Central Bank of Argentina is considering lifting the ban on banks offering cryptocurrency services, potentially implementing new rules by April 2026.
- Argentina's shift towards a crypto-friendly policy follows the election of Javier Milei and aims to boost adoption amid economic challenges.
- Argentina is a leading country in cryptocurrency adoption, with a significant portion of transactions involving stablecoins to hedge against inflation.
Top Stories
