President Donald Trump supports the idea of the US government buying one million Bitcoin (BTC), says Senator Cynthia Lummis.
In March, Lummis (R-WY) introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the Senate.
If passed, the bill would establish a decentralized network of Bitcoin vaults operated by the Department of the Treasury, and it would implement a one-million-unit BTC purchase program so the US government could control approximately 5% of the top crypto asset’s supply.
Lummis said in a speech this week that she’s “particularly pleased with President Trump’s support” of her BITCOIN Act.
“The BITCOIN Act is the only solution to our nation’s $36 trillion debt. I’m grateful for a forward-thinking president who not only recognizes this but acts on it.”
The Wyoming senator, a longtime BTC advocate, says the potential legislation would secure the country’s position as “a global leader in financial innovation.”
“As Bitcoin comes into more usage, its use makes the whole system more secure, more robust and more capable of serving our needs all over the world.
We should be the global leader with this fantastic new ledger-based asset that is in a digital format that is going to be transformative of the everyday economy and puts the everyday American, in fact, the everyday worker all over the world, in control of their own money.”
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