cryptojournalist
Senator Cynthia Lummis is pushing for a big change. She thinks the U.S. should swap some of its gold — over 8,000 tons — for Bitcoin. Her goal? Build a national Bitcoin reserve to prepare for the future.
A Cost-Free Swap
Lummis doesn’t want to spend billions to buy Bitcoin. Instead, she suggests converting gold certificates the Treasury already owns. This approach wouldn’t impact the government’s finances, making it an easier sell.
What’s the Plan?
The idea is ambitious: purchase 1 million Bitcoin (5% of the total supply) and hold it for 20 years. It would cost around $90 billion at today’s prices, but Lummis believes it’s a necessary move as inflation and debt continue to climb.
Mixed Reactions
Investor Anthony Pompliano says it’s a smart risk, especially considering the U.S. recently added $850 billion to its debt in just three months. On the other hand, Mike Novogratz doubts it’ll happen under Trump but says Bitcoin’s price could hit $500,000 if it does.
