US Sen. Cynthia Ramis has presented a prominent proposal to address the country’s long-term financial issues.
According to Lummis, if the US owns 1 million Bitcoin (BTC) in its strategic preparation for 20 years, it could eliminate half of its $37 trillion national debt.
Lummis said it could accelerate the process by saying it could take the first step with seized digital assets held by former US s services. He argued that these assets could be the starting point for “strategic Bitcoin Reserve,” adding that over time, other assets could be converted into Bitcoin and accumulated in the reserve.
According to the senator, some of these steps can be implemented within existing presidential power without the need for new laws. However, Lummis said a legal framework needs to be established for long-term security.
“Legislation of strategic Bitcoin reserves is important because future presidential policies cannot be easily eliminated.”
Lumis said the goal is to collect 1 million Bitcoins, or about 5% of the total supply, and hold them for 20 years. According to Ramis, if this vision were to come true, it could erase half of the US national debt.
*This is not investment advice.
