Senator Lummis Proposes Gold Revaluation of Bitcoin Reserve for US Strategy

Senator Cynthia Lummis has introduced legislation, the BITCOIN Act, proposing a significant shift in how the U.S. manages its Bitcoin reserves. The proposed solution involves revaluing existing gold reserves to determine a new price for the strategic Bitcoin reserve, instead of purchasing new Bitcoin. This action is aimed at both mitigating national debt and bolstering the country’s global standing in the cryptocurrency sector.