Wyoming Senator Cynthia Lummis has introduced a Bitcoin Reserve Bill aimed at transforming the US economy
Wyoming Senator Cynthia Lummis has introduced a Bitcoin Reserve Bill aimed at transforming the US economy.
The proposal suggests the Federal Reserve should add Bitcoin to its balance sheet as a strategic reserve to help address the national debt, which has recently surpassed $35 trillion.
Critics, including experts from the Cato Institute, have raised concerns about the feasibility and potential consequences of this plan, which involves purchasing 1 million BTC worth $100 billion.
The national debt, now more than 122% of the national GDP, continues to grow, with significant contributions from Social Security and Medicare. As the debate over the Bitcoin Reserve Bill and similar proposals from figures like Trump continues, the broader implications for the US economy and financial stability remain uncertain.
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