News View Non-AMP

Senator Lummis Claims Bitcoin Could Solve USA’s Debt Crisis

Published by
Nidhi Kolhapur

In a recent interview with FOX Business, Senator Cynthia Lummis shared her plan to use Bitcoin to reduce the U.S. national debt. Lummis believes that Bitcoin, known for its long-term value, should be added to the country’s reserves alongside assets like gold and oil.

Let’s explore this plan in detail below.

Is Bitcoin the Smartest Investment for USA?

Lummis suggested that the U.S. government should acquire about 200,000 Bitcoin over the next 20 years, with a goal of building up to 1 million BTC. She argued that this Bitcoin reserve could play a key role in reducing the nation’s debt.

At a time when the government is focused on cutting spending, Lummis emphasized that her plan would not require any new taxpayer money. Instead, she proposed using existing gold reserves, specifically the gold certificates held by Federal Reserve Banks, to fund the Bitcoin purchase.

A Reserve Strategy That Costs Nothing

Lummis pointed out that the U.S. is already in a strong position to implement her plan. The government currently holds over 200,000 Bitcoin through asset forfeiture funds, meaning it could start building a Bitcoin reserve without any additional cost. For herself, Lummis holds five BTC, managed through a blind trust.

She also highlighted that it’s very important to protect Bitcoin and people who hold their Bitcoins in individual wallets.

“We don’t want to see this asset become owned only by governments and certainly don’t want to see it controlled by governments because its great virtue is as a freedom money,”

A Pro-Bitcoin Cabinet In the Making?

Lummis praised former President Trump for recognizing the importance of Bitcoin, noting that he had identified it as an asset that the U.S. should support. She expressed concern, however, that current regulatory actions—such as penalties and lawsuits—have pushed the crypto industry to other countries, including the European Union.

Looking ahead, Lummis mentioned that President-elect Trump seems to be building a pro-Bitcoin cabinet, which could shift U.S. policy in favor of cryptocurrency.

Lummis’s proposal has stirred significant debate among policymakers and market experts, with many questioning its practicality and long-term effects.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Bitcoin Price Could Test $99K Before a Year-End Surge, Says Market Expert

Bitcoin’s price has been moving sideways in recent sessions, but a big breakout could be…

July 6, 2025

Ripple Price Prediction as XRP ETF Approval Odds Near 100%

XRP is once again making headlines as the odds of a Spot XRP ETF approval…

July 6, 2025

Best Memecoin To Buy Now? Pepeto Could Mirror Doge and SHIB Past Price Rallies

The memecoin world is going through a big transformation. Where tokens once thrived purely on…

July 5, 2025

These 4 Meme Coins Could 20x in 2025 as Spot Dogecoin ETF Nears SEC Approval

The meme coin market is heating up like never before—and 2025 might just be the…

July 5, 2025

Liked by Investors: This $0.03 Coin Has the Same Upside Potential as XRP (XRP) in Early Days

Years ago, XRP traded under a penny, shrugged off by many who didn’t fully grasp…

July 5, 2025

Why Remittix’s Unique PayFi Offering Has Cardano & XRP Whales Circling After $15 Million Is Raised!

Remittix is quickly gaining ground as a serious crypto player, especially after raising over $15.9…

July 5, 2025