Crypto-friendly US senator Cynthia Lummis has confirmed that taking funds for US strategic Bitcoin Reserve (SBR) can “start anytime” today, even if the leg tape is preventing it.
In an X post on Monday, Lummis Says That while it remains a “slog” on the legislative side of things, thanks to “President Trump, taking funds for an SBR can start at any time.”
Lummis made comments in response to a post from Procap BTC Chief Investment Officer Jeff Park, who shared a video of himself and the Bitcoin Bull Anthony Pomplano discussing the potential of the Strategic Bitcoin Reserve.
The park is hypothesizing what happens if the government can use the $ 1 trillion worth of paper obtained from gold to re -invest in bitcoin (Btc).
He argued that, the government was given about $ 37.88 trillion in the fiscal DebtUsing $ 1 trillion on paper acquired things will be a relatively minor risk to the grand scheme of things.
“And so if there is a way to unlock the ability to develop action on the gold paper obtained to get a Bitcoin call option. There is incredible -it can happen … If you have bitcoin -owned, and you assume it will climb 12% a year, you will do 30x in 30 years,” he said.
“It will definitely be able to cover most of the fiscal deficiency holes that exist.”
In response, Lummis said it was “an amazing articulation of why SBR and the passage of the Bitcoin Act make sense.”
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It is still unclear how to raise capital for strategic bitcoin reserve. According to the official sheet of government reality, the reserve is At first Be “capitalized in Bitcoin owned by the Department of Treasury” obtained by civil or criminal proceedings.
It then said that additional BTCs can be obtained by avenues that have nothing to do with the budget “imposing costs of adding to American taxpayers.”
The government bought a bitcoin around the corner?
It has been seven months since President Donald J. Trump signed an executive order that Promote the Bitcoin reserve. However, the concrete formulation of the reserve has not been confirmed, resulting in a fair amount of imagination -haka and debate Around the exact launch timeline.
Some, however, hope that the government can announce some BTC purchases in the near future. Talking to CNBC on the weekend, Anthony Pompliano Says There are three main things the market is watching today:
“The first is that the US government at some point will announce that they are buying Bitcoin. Creating the initial type of strategic reserve and sitting in Bitcoin that we already have good. But that’s not the main dish.”
“The main dish is when they start buying, and I think this will happen at some point.”
Magazine: Dangers to us are ‘front run’ in Bitcoin Reserve by other countries: Samson Mow
