US Bitcoin Reserve: Lummis confirms that Treasury probes directly confirm BTC purchases

4 Min Read
4 Min Read
A reliable editorial Content reviewed by industry experts and veteran editors. Advertising disclosure

In an interview with Bitcoin commentator Natalie Brunel, Sen. Cynthia Ramis (R-WY) reaffirmed her commitment to establishing the US Strategic Bitcoin Reserve (SBR) and revealed that the Treasury is investigating the legal authority to purchase and custody BTC on behalf of the federal government. The Senator believes that such a move will significantly reduce national debt over the long term.

Senator Ramis pushes Bitcoin reserve

Lummis pointed to approximately 200,000 BTC as its starting point in the US Marshall Services asset confiscation program.

With her stance clearer, the senator said she has decided whether she needs new laws or whether the administration already has power.

Lummis proposes converting seized BTC into official “basic investments.” If successful, this would be the first time the US government has intentionally and openly accumulated Bitcoin as a strategic asset.

One of Lummis’ main arguments about SBR is her ability to reduce federal debt, which she considers to be “irresponsibly high.” Under her Bitcoin Act, the US could also reevaluate gold certificates. This is listed at a decades-old official price, which is $42 per ounce, well below market value, and unfolds the difference in purchasing BTC.

“My law provides that you can get a certificate of gold. I lift them up to the current fair market value of gold, and use it to buy Bitcoin, thereby creating a million Bitcoin reserves over five years.”

She argues that by holding this million BTC on the horizon for 20 years, it will “cut down current national debt in half.” Citing massive modelling from supporters like Michael Saylor, we believe that rising BTC prices could bring significant benefits to taxpayers.

The senator praised President Trump’s recent executive order aimed at making the United States “global digital asset capital” by fostering a favorable environment for BTC mining, regulatory clarity and strategic preparation. According to Lumis, these moves stand in stark contrast to “people didn’t know about and didn’t want to talk about digital assets.”

See also  CBOE will launch FTSE Bitcoin Index Futures Products on April 28th

However, Ramis highlights the need for bipartisan collaboration, suggesting that Bitcoin is gaining interest in Republican circles, but should not be a strictly partisan effort.

At the time of pressing, BTC traded for $84,202.

Bitcoin Price
BTC exceeds $84,000, one day chart | Source: BTCUSDT on tradingView.com

YouTube Featured Images, Charts on tradingView.com

Editing process Bitconists focus on delivering thorough research, accurate and unbiased content. We support strict sourcing standards, and each page receives a hard-working review by a team of top technology experts and veteran editors. This process ensures the integrity, relevance and value of your readers’ content.

Share This Article
Leave a comment