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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.
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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.
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"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.
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