Senator Cynthia Lummis Proposes U.S. Sell Gold Reserves for $1 Trillion to Buy 1 Million Bitcoin Over Five Years at New York Bitcoin Investor Week

Senator Cynthia Lummis has proposed that the U.S. government should sell its gold reserves and use the proceeds to purchase Bitcoin. Lummis estimates that the government could revalue its gold certificates to around $1 trillion, from which she aims to acquire 1 million Bitcoin over the next five years. This strategy is intended to bolster U.S. competitiveness against China in the cryptocurrency space. Lummis suggests that the government could buy approximately 200,000 Bitcoin each year for five years and hold these assets for two decades. Her remarks were made during the New York Bitcoin Investor Week event, where she emphasized the potential for an arms race over Bitcoin rather than traditional weapons.

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