Senator Cynthia Lummis announced legislation directing the U.S. government to acquire 1 million Bitcoin worth over $68 billion. Lummis said purchasing Bitcoin as a strategic reserve would stabilize the dollar and counter inflation.
Senators Cynthia Lummis and Kirsten Gillibrand will introduce the Responsible Financial Innovation Act for regulatory clarity for bitcoin and cryptocurrencies.
Senator Cynthia Lummis and a former Federal Reserve vice chair recently discussed whether the U.S. central bank should hold bitcoin on its balance sheet.