US Could 'Erase' Its $39 Trillion Debt By Holding More Than 5% Of World's Bitcoin, Says Cynthia Lummis: Senator Spells Out How Long It Would Take

Benzinga11:33

Sen. Cynthia Lummis (R-Wyo.) said in a Wednesday podcast that the U.S. acquiring more than 5% of Bitcoin’s (CRYPTO: BTC) supply as a strategic reserve could “erase” the country’s ballooning national ...

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Lummis (R-Wyo.) said in a Wednesday podcast that the U.S. acquiring more than 5% of Bitcoin’s (CRYPTO: BTC) supply as a strategic reserve could “erase” the country’s ballooning national ...</p>\n\n<a href=\"https://www.benzinga.com/crypto/cryptocurrency/26/06/60088551/cynthia-lummis-says-us-could-erase-39-trillion-debt-by-holding-more-than-5-percent-of-worlds-bitcoin\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BTRN","symbol_name":"比特币期货ETF-Global 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Lummis表示，美国可以通过持有超过5%的世界比特币来“消除”其39万亿美元的债务：参议员详细说明了这需要多长时间","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTRN":0.6,"BTCC":0.6,"CBTJ":0.6,"BFJL":0.6,"BRRR":0.6,"XBTY":0.6,"QBF":0.6,"EZBC":0.6,"BITO":0.6,"CBOO":0.6,"BETH":0.6,"BITY":0.6,"CBTA":0.6,"MAXI":0.6,"CBXO":0.6,"YBTC":0.6,"BCCC":0.6,"BTF":0.6,"BTCI":0.6,"BTCZ":0.6,"BETE":0.6,"BTCW":0.6,"BITI":0.6,"BTCL":0.6,"SBIT":0.6,"CBOY":0.6,"CBXA":0.6,"ARKB":0.6,"BTFX":0.6,"BAGY":0.6,"CBOA":0.6,"BITX":0.6,"BFAP":0.6,"CBTY":0.6,"DFII":0.6,"BPI":0.6,"DEFI":0.6,"FBTC":0.6,"MNRS":0.6,"BTC":1.98,"CBOJ":0.6,"CBTO":0.6,"IBIT":0.6,"GBTC":0.6,"HODL":0.6,"CBXJ":0.6,"CBXY":0.6,"BITB":0.6,"BTCO":0.6,"BITU":0.6},"content_text":"Sen. Cynthia Lummis (R-Wyo.) said in a Wednesday podcast that the U.S. acquiring more than 5% of Bitcoin’s (CRYPTO: BTC) supply as a strategic reserve could “erase” the country’s ballooning national debt.\nIn a conversation with Bitcoin Magazine host Spencer Nichols, Lummis stated that acquiring just 5% of Bitcoin’s total supply— roughly 1 million BTC—and holding it for 20 years could reduce the national debt, currently over $39 trillion, by one-third to one-half.\n“And if we held even more than 5% of the world’s Bitcoin, it could actually erase our debt. So this is an important asset in a buy-and-hold strategy,” the cryptocurrency-friendly lawmaker added.\nLummis has long advocated for the passage of BITCOIN Act, a bill proposing the acquisition of 1 million BTC over five years, leveraging budget-neutral strategies such as Federal Reserve remittances and gold certificate revaluations.\nThe Republican was not optimistic about the bill’s chances in the Senate, but expressed hope that the House version, introduced by Nick Begich (R-AK), would pass.\nThe U.S. government holds 328,352 BTC, worth approximately $20.29 billion, according to on-chain analytics firm Arkham, with the majority seized from criminal and civil forfeiture proceedings.\nWhile Bitcoin advocates argue that rotating capital from gold to Bitcoin could generate exponential long-term returns for BTC, critics warn that selling over 8,000 tonnes of U.S. gold reserves could depress global gold prices and damage the credibility of U.S. reserves.\nCritics have also highlighted Bitcoin’s volatility as a major concern, noting that it can drive prices higher during accumulation phases while increasing the risk of sharp reversals afterward.\nAfter all, the cryptocurrency has collapsed nearly 52% from its record highs of $126,198.07 set in October last year.\nLummis also weighed in on the importance of regulatory clarity for cryptocurrency, warning that without it, innovation could shift away from the U.S.\n“I refuse to let that keep happening on my watch,” she added.\nPrice Action: At the time of writing, BTC was exchanging hands at $60,726.20, down 2.92% in the last 24 hours, according to data from Benzinga Pro.\nPhoto: Memory Stockphoto / Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2646821052","isCrawlerRequest":true}