Senator Proposes Gold-Backed Bitcoin Strategy for Debt Reduction

U.S. Senator Cynthia Lummis has introduced a novel proposal aiming to tackle the nation’s growing debt by purchasing Bitcoin using gold certificates valued at the 1974 price point, according to PANews. Senator Lummis envisions this strategy potentially reducing national debt in half within 20 years. Crucially, she asserts that this approach does not necessitate additional taxpayer funds for Bitcoin acquisition.