The post Cynthia Lummis Pushes For Strategic Bitcoin Reserve appeared first on Coinpedia Fintech News The U.S. government, under President-elect Donald Trump, is seriously looking at the idea of creating a Strategic Bitcoin Reserve . With Bitcoin hitting record highs, important figures like Senator Cynthia Lummis and Dennis Porter are pushing hard to make it happen. The plan is to make Bitcoin a part of U.S. fiscal policy. This could help strengthen the U.S. dollar and even improve national security. It’s a bold idea that could completely reshape how America handles money. Cynthia Lummis and Her Vision for Bitcoin Cynthia Lummis, the Wyoming Senator, has been a Bitcoin supporter for a long time. She sees Bitcoin not just as a cryptocurrency, but as something that could help secure America’s financial future. She’s backing a proposal to turn part of the U.S. gold reserves into Bitcoin. Lummis argues this would save the government billions and give the dollar a much-needed boost. Source : X.com But she’s not in this alone. David Sacks, a venture capitalist who’s been named the “ Crypto Czar ,” is working alongside her to push for a new law that would make Bitcoin a key part of the U.S. reserves. This partnership is all about making sure the economy stays strong, even as we head into a more digital age. Dennis Porter and the Executive Order Dennis Porter, the CEO of Satoshi Action Fund, shared the first page of an Executive order via an X post. This EO could pave the way for the Strategic Bitcoin Reserve. This will allow the U.S Treasury to manage BTC as a reserve asset along with the dollar and gold. MASSIVE BREAKING: I can confirm that my team has finalized a model EXECUTIVE ORDER for the president of the United States to establish a ‘Strategic Bitcoin Reserve’ pic.twitter.com/rz3issLf2H — Dennis Porter (@Dennis_Porter_) December 17, 2024 The executive order also proposes taking around 200,000 Bitcoin—seized in criminal cases and worth about $20 billion—and using them as part of this reserve. Instead of selling these assets at auction, they would be put to work for national financial stability. To ensure transparency, the Treasury would oversee Bitcoin with robust security and conduct regular audits. What’s Next for Bitcoin in U.S. Reserves? If the plan goes ahead, the Strategic Bitcoin Reserve could have a major impact on the U.S. economy. It might help cut down the national debt, protect the country from inflation. It can even make the dollar more competitive on the global stage. Beyond that, it could give the U.S. a stronger negotiating position against economic powers like China and Russia. While the proposal sounds promising, it’s clear that challenges remain. From legal hurdles to market volatility, the next steps will be crucial in determining whether this ambitious plan becomes a reality.
