U.S. Senator "Bitcoin reserves are the key to solving the 36 trillion dollar national debt"

United States Senator Cynthia Lummis Who Is Promoting The Bitcoin Bill (Source: AP)

United States Senator Cynthia Lummis Presented Bitcoin As An Alternative To Solve The Astronomical Federal Debt Problem. Senator Lummis Mentioned The National Debt Amounting To Currently $36 Trillion, Emphasizing That The Bitcoin Law She Proposed Could Be The Only Solution.

According To Coinpost, The 'Bitcoin Act' Submitted By Senator Lummis In July Last Year Is A Measure To Support The Executive Order Related To Digital Assets Signed By President Donald Trump At The Legislative Level. The Bill Aims For The U.S. Government To Strategically Secure 1 Million BTC, Which Is About 5% Of The Total Bitcoin Supply, Over The Next 5 Years. This Is An Attempt To Officially Recognize Bitcoin As A Strategic Asset At The National Level.

Senator Lummis Claimed That Through This Bill, The U.S. Could Adopt Bitcoin As A Digital Reserve Asset And Reshape The Financial System Based On It. She Warned That "Abusing Currency Issuance Like Now Will Ultimately Destroy The Trust In The Dollar, Leading To Hyperinflation." She Emphasized That Bitcoin Reserves Are A Path To Restore Trust In The U.S. Economy.

Moreover, She Said That Adopting Bitcoin Would Be An Opportunity To Revive America's Global Financial Leadership, Stating That A National Strategy Utilizing Digital Assets Would Enhance The Stability And Resilience Of The Financial Infrastructure And Enable Agile Responses To Market Demands Worldwide.

Meanwhile, Contrary To Senator Lummis' Claims, The Bill Has Not Even Started Serious Discussion In The Federal Congress Yet. Although It Is Gaining Attention Due To Support From President Trump, Significant Complications Are Expected Until The Actual Passage Of The Bill.