- Daily Dispatch
- Posts
- Bitcoin reserve incoming? 🇺🇸
Bitcoin reserve incoming? 🇺🇸
Senator Cynthia Lummis is renewing the push to establish a U.S. strategic Bitcoin reserve after Trump takes office. She told Decrypt all about how it could work.
Andrew Hayward
November 08, 2024
📝 What you need to know
Remember all of the summer chatter about the United States launching a strategic Bitcoin reserve? Well, now that Donald Trump has secured a second term in the White House, those words look a lot more likely to be put into action.
Senator Cynthia Lummis told Decrypt this week that under Trump, she believes that America is “better positioned than ever before to build a brighter economic future by creating a strategic Bitcoin reserve.”
Lummis further detailed how the proposed reserve would work, with the U.S. potentially amassing upwards of 1 million Bitcoin—nearly 5% of the total supply—over a five-year span and holding the funds for a minimum of 20 years. And the U.S. government already holds $16 billion worth of seized BTC; not a bad start.
💬 Quote of the Day
“I think it’s safe to say that a Trump administration will be holding its Bitcoin and hopefully growing its supply.”
