US Senator Cynthia Lummis has announced that funding for the US Strategic Bitcoin Reserve (SBR) can commence immediately, although legislative hurdles remain. In a recent statement, Lummis credited former President Trump for enabling the potential start of fund acquisition, despite ongoing legislative challenges. The SBR aims to be initially funded with Bitcoin seized by the Department of Treasury, with further acquisitions planned through budget-neutral methods.
The concept of the SBR has sparked discussions, with ProCap BTC's Jeff Park suggesting the US could leverage $1 trillion in paper gains from gold to invest in Bitcoin, potentially addressing the nation's $37.88 trillion fiscal debt. Lummis supports this view, emphasizing the strategic importance of the SBR and the BITCOIN Act. While the exact timeline for the reserve's launch remains uncertain, market watchers anticipate potential government Bitcoin purchases soon.
Senator Lummis: US Bitcoin Reserve Funding Can Begin Anytime
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.