US Senator Lummis: BTC is the only way for the US to escape the $36 trillion debt vortex
US Senator Cynthia Lummis spoke in Congress, stating that the United States is running out of time and traditional choices. Either default leading to collapse and vicious inflation, or use Bitcoin and technology to get out of the predicament. The "Bitcoin Act" will be the only solution to address the US's $36 trillion debt, and the related initiative has already received support from Trump.
If the "Bitcoin Act" is enacted into law, the US will purchase 200,000 bitcoins annually for the next five years, creating a reserve of at least 1 million bitcoins to be held for twenty years. According to VanEck's previous estimates, if the US follows this roadmap, it is expected that by 2049 the Bitcoin reserve could offset up to $21 trillion of national debt.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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