Senator Lummis Proposes U.S. Acquisition of 1 Million Bitcoin to Halve $36 Trillion National Debt Over 20 Years

Senator Cynthia Lummis has proposed a bold initiative to reduce the U.S. national debt by 50% through the long-term holding of Bitcoin. According to Lummis, if the U.S. acquires and holds 1 million Bitcoin (BTC) over a 20-year period, it could significantly impact the nation's financial obligations. The proposal, part of the reintroduced Bitcoin Act, suggests that the U.S. should purchase 200,000 BTC annually, funded by existing Federal Reserve resources. Lummis, known for her pro-Bitcoin stance, emphasized that this strategy could address the current $36 trillion national debt, which has been exacerbated by extensive dollar printing during the COVID-19 pandemic. The initiative aims to position the U.S. as a leader in Bitcoin adoption, with Lummis stating that a growing number of lawmakers are recognizing the potential of Bitcoin.