Senator Cynthia Lummis of the United States is proposing the establishment of a “strategic bitcoin reserve” with the intention of lowering the national debt of the United States by the purchase of one million bitcoins (BTC) over a period of many years.
Cynthia said on X, formerly Twitter: “We will convert excess reserves at our 12 Federal Reserve banks into #bitcoin over five years. We have the money now!
The bitcoins will be kept in storage for twenty years or longer. Lummis thinks that this is the solution to the existing national debt of the United States, which is equivalent to approximately $68 billion at the moment.
Additionally, Lummis thinks that it is now the appropriate time to acquire Louisiana on account of the approval of the notion by former President Donald Trump.
