While Biden attempts to sell off all of the U.S. Bitcoin out of spite for Trump, the public is calling for Bitcoin to be made a national reserve.
Senator Cynthia Lummis has officially introduced Bill S.4912 to Congress and the Banking Committee. The proposal involves purchasing one million Bitcoin over the next five years, which amounts to roughly 500+ BTC per day.
The Bitcoin would be held for a minimum of 20 years in cold storage wallets scattered across various states. The bill includes provisions for audits and regular reports with verification. However, there are concerns that this approach might lead to increased criminal activity.
Over 2,200 letters from citizens have been received in support of the idea. Notably, Bitcoin has dropped to $58,000 this week and, based on the chart, might fall to $50,000 in the coming weeks.
It will be interesting to see how the country’s financial policies, public requests, and the opinions of both the current and future presidents will shape up. Will we see a powerful nation with an economy built not just on the dollar?
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