Senator Cynthia Lummis, a big fan of crypto, wants the US government to buy a million Bitcoins to help with the country’s huge debt problem.
Bitcoin as a Solution?
Speaking at a Bitcoin conference, Lummis said she’s going to propose a bill that would make the US government buy Bitcoin. She thinks this would help the dollar stay strong and make the US a leader in the world of finance.
“We need to create a brighter future for our kids and grandkids by investing in Bitcoin and securing our economy,” Lummis said.
Buying Bitcoin Over Five Years
Lummis’s plan is to buy Bitcoin over the next five years. She wants the government to buy 5% of all Bitcoins in existence, which would be a million Bitcoins.
“This could cut our debt in half by 2045,” she said.
A Bold Move
Lummis’s idea is pretty radical. The US government has never bought Bitcoin before, and it’s a risky investment. But Lummis believes it’s the best way to solve the country’s debt problem.
“This is our chance to do something big,” Lummis said. “This is our ‘Louisiana Purchase’ moment!”
Huge Debt, Big Gamble
The US is currently facing a record debt of over $34 trillion. Bitcoin is currently worth about $68,000, so buying a million Bitcoins would cost a lot of money.
It’s unclear if Lummis’s bill will pass, but it’s certainly a bold proposal.
