Senator Lummis Officially Introduced the Strategic Bitcoin Reserve Legislation
01.08.2024 0:17 1min. read Alexander Stefanov
Senator Cynthia Lummis has introduced the "Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024" (Bitcoin Act of 2024).
The purpose of this legislation is to create a strategic Bitcoin reserve by providing transparent management of federal BTC holdings and offsetting costs through Federal Reserve resources.
The bill mandates the creation of a Bitcoin reserve to strengthen the US position in the global digital economy and increase competitiveness in the cryptocurrency sector.
JUST IN: 🇺🇸 Senator Lummis publishes #Bitcoin Strategic Reserve legislation. pic.twitter.com/YnBPoEdpPy
— Bitcoin Archive (@BTC_Archive) July 31, 2024
Emphasizing transparency, the law requires regular audits, public disclosure, and rigorous oversight to maintain public confidence in government Bitcoin tokens.
Using Federal Reserve resources, the bill aims to minimize the financial burden on taxpayers while maintaining the Bitcoin reserve.
The bill was read twice in the Senate and referred to the appropriate committee for further consideration.
-
1
Bitcoin Surges Past $62,000 After Fed Cuts Rates by 0.5%
19.09.2024 10:06 2min. read -
2
Crypto Market is Bleeding Again – Bitcoin Falls Below $59,000
28.08.2024 1:48 1min. read -
3
Bitcoin’s Halving Cycle May No Longer Apply, Says Analyst
01.09.2024 20:00 2min. read -
4
Bitcoin’s Big Break: Wall Street Gears Up for Crypto Boom, Says Scaramucci
26.08.2024 9:00 1min. read -
5
Another Bitcoin Mining Firm Files for Chapter 11 Bankruptcy
27.08.2024 19:30 1min. read
Bitcoin: Analysis Firm Explores Possible Future Scenarios for the Cryptocurrency
Alphractal, a cryptocurrency analysis firm, has voiced concerns about Bitcoin’s current market trajectory, suggesting it may be on the verge of entering a bear market phase.
Are Bitcoin Whales Cashing Out After Bitcoin’s Recent Surge?
Recent blockchain data reveals that a segment of Bitcoin investors has started selling off assets to lock in profits following a recent price surge.
Experts Signal Imminent Bitcoin Rally, Brushing Off Bear Market Concerns
CryptoCon confidently predicted an imminent bull market for Bitcoin, downplaying concerns of a recession or prolonged bear market.
Bitcoin Could Hit $200,000 by 2025 Amid Key Regulatory Changes, Analyst Predicts
Jeff Kendrick, global head of digital asset research at Standard Chartered, predicts Bitcoin could reach $200,000 by the end of 2025, regardless of the outcome of the 2024 US presidential election.
-
1
Bitcoin Surges Past $62,000 After Fed Cuts Rates by 0.5%
19.09.2024 10:06 2min. read -
2
Crypto Market is Bleeding Again – Bitcoin Falls Below $59,000
28.08.2024 1:48 1min. read -
3
Bitcoin’s Halving Cycle May No Longer Apply, Says Analyst
01.09.2024 20:00 2min. read -
4
Bitcoin’s Big Break: Wall Street Gears Up for Crypto Boom, Says Scaramucci
26.08.2024 9:00 1min. read -
5
Another Bitcoin Mining Firm Files for Chapter 11 Bankruptcy
27.08.2024 19:30 1min. read
