Cynthia Lummis Proposes 1M BTC Buying FED Strategy Over 5 Years and Holding for 20 Years to Offset National Debt
- Undeterred by BTC’s ongoing dip, Senator Cynthis Lummis makes a bold proposal.
- She wants to make it legal for the FED to buy and hold Bitcoin.
- Proposes a 1 million BTC buying plan over 5 years and holding for 20 to offset national debt.
The crypto market continues its brutal dip as Bitcoin price slips below the $100,000 price mark currently trading at $97,000. Many analysts had already predicted additional correction phases as Bitcoin sets new ATHs and explores higher highs in its discovery phase. Thus, most analysts seem unfazed by the current dip.
Despite the falling price of the crypto market, long-term believers remain strong in their expectations for Bitcoin potential and its cycle top piece that could go up to $200,000 BTC price this crypto bull run. In the eyes of many, one of the main reasons that the market dipped was due to the statement made by the FED Chairman who said that they were not allowed to own Bitcoin.
Cynthia Lummis Advocates for FED Owning Bitcoin
This alongside the US stock market wiping out over $1.5 trillion led to the start of the ongoing correction phase. In response to the FED’s statement, Cynthia Lummis makes a statement of her own. The Senator states that she would like to make it legal for the FED to buy and hold Bitcoin as a Federal Reserve.
As we can see from the video in the post above, Lummis says that she wants the Fed to have a Strategic Bitcoin Reserve, a sentiment she shares with current President Elect of the US, Donald Trump. Lummis hopes to use this reserve to back the US Dollar as the world reserve currency.
She Proposal a 1 Million BTC Buying Plan
She adds that the US being allowed to buy Bitcoin she hopes to offset the national debt. She says if the FED could purchase around 200,000 BTC per year for 5 years. She says that holding a million BTC for 20 years will certainly bring monumental returns for the US and offset its dramatic national debt.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump Crypto and AI Policy: Bo Hines and Sriram Krishnan Lead Key Roles
Solana’s First Layer 2 Gears Up to Ignite the 2024 Meme Coin Super Cycle
Tether Invests in Rumble to Advance Decentralized Media
KOMAUSDT now launched for futures trading and trading bots
Bitget has launched KOMAUSDT for futures trading with a maximum leverage of 75, along with support for futures trading bots, on December 23, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. KOMAUSDT-M perpetual futures: Parameters Details Listing