Senator Lummis's Bitcoin Act, Backed by Trump, Aims to Buy 1 Million Bitcoins for Strategic Reserve

By: defi news|2025/05/02 17:00:13

U.S. Senator Cynthia Lummis has introduced the 'Bitcoin Act', which she claims is the only solution to address the nation's $36 trillion debt. The act, referred to as the Strategic Bitcoin Reserve bill, aims to secure America's position as a leader in financial innovation and eliminate fiat waste.Senator Lummis has expressed gratitude for President Trump's support of her bill, which includes a proposal to purchase 1 million Bitcoins. She has also criticized the Federal Reserve for shutting down successful banks that dealt with Bitcoin.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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