CandleFocus Congressman Khanna backs Bitcoin strategic reserve as Democrats seek a ‘crypto reset’
2024-10-02
Author: Content Editor
Lawmakers in the United States are showing support for the creation of a strategic Bitcoin reserve, recognizing the potential of the cryptocurrency as a national asset. Representative Ro Khanna from California has endorsed the idea, emphasizing Bitcoin's potential for appreciation and its value as a strategic reserve. The proposal, initially led by Senator Cynthia Lummis, aims to acquire 1 million Bitcoin using existing Federal Reserve and Treasury funds. Khanna's endorsement signals a growing bipartisan consensus on integrating Bitcoin into the US financial strategy. This shift is seen as part of a broader movement within the Democratic Party towards a more open engagement with digital assets. Republican leaders like Senator Lummis and former President Donald Trump have also advocated for creating a national Bitcoin reserve. The idea of a strategic Bitcoin reserve is gaining support from lawmakers across the political spectrum as they recognize the importance of holding Bitcoin for its long-term potential. Furthermore, embracing digital assets is becoming a winning strategy for candidates in both parties as the 2024 election approaches.
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