Sen. Cynthia Lummis (R-WY) has reintroduced the BITCOIN Act in the U.S. Senate, permitting the government to purchase one million additional Bitcoin, equating to approximately $80 billion. This legislation aims to codify former President Donald Trump's Bitcoin reserve proposal and promote digital innovation to tackle national debt and enhance global economic competitiveness. The Act is supported by five Republican cosponsors and aims to finance these purchases through net earnings from the Federal Reserve and by issuing new certificates on gold holdings. The Treasury Secretary will oversee the acquisition and management of the Bitcoin, with a stipulation that new BTC must be held for at least 20 years. The bill has arisen amidst senior White House officials advocating for the indefinite holding of Bitcoin to ensure long-term value. Lummis' more aggressive approach contrasts with the White House’s stance, focusing on the potential future profits from selling BTC.

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