CandleFocus Over 120,000 letters sent to state lawmakers to endorse ‘Strategic Bitcoin Reserve’ bill
2024-11-16
Author: Content Editor
The crypto community has sent over 120,000 letters urging lawmakers to endorse the Strategic Bitcoin Reserve bill. The letters were issued by the Satoshi Act Fund and aim to convince lawmakers of the benefits of embracing Bitcoin. Pennsylvania is planning to introduce a bill that would allow the state treasury to use BTC as a strategic reserve asset. Additionally, Senator Cynthia Lummis introduced the 'Bitcoin Act of 2024' bill to the U.S. Congress, which aims to accumulate 1,000,000 BTC over the next 5 years. Lummis believes BTC can transform the financial sector and reduce the country's increasing debt. The government would hold the BTC in a trust for approximately 20 years. Finally, Lummis also suggested swapping gold reserves for BTC to acquire more without increasing the financial deficit.
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