Could Bitcoin (BTC) be used to solve the United States' $33 trillion (approximately 45,870 trillion won) national debt? Senator Cynthia Lummis proposed an innovative solution.
In a recent interview with Bloomberg, Lummis revealed a plan to create a U.S. Bitcoin reserve. The plan involves acquiring approximately 5% of the total Bitcoin supply, which is 1 million BTC, over the next 20 years.
The first step of this plan is to utilize digital assets held by the U.S. Marshals Service under the Department of Justice. By creating a reserve from cryptocurrencies seized in asset forfeiture funds, they can initiate the project in the first year without additional legislative procedures.
Senator Lummis cited the excellent security and reliability of the Proof of Work (PoW) mining method as the reason for choosing Bitcoin as the reserve. She projected that acquiring 1 million BTC over 20 years could potentially halve the national debt alongside Bitcoin's value appreciation.
Additionally, Lummis emphasized that this plan could secure a strategic advantage in economic competition with China. She added that high-ranking U.S. military officials stationed in Southeast Asia also recognize Bitcoin's strategic value.
She specifically mentioned former President Trump's forward-looking Bitcoin investment and expressed hope that more Americans would recognize the value of cryptocurrency. She explained that this perspective would become increasingly important as the digital economy grows.
If this plan is realized, it is expected to be a significant turning point in U.S. economic management and the nationalization of Bitcoin as a strategic asset.
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