In a latest development, US Senator Cynthia Lummis and Donald Trump’s incoming Treasury Secretary Scott Bessent have met to discuss the United States’ potential strategic Bitcoin reserve. Lummis called Bessent a “champion for digital assets and a crucial ally in passing strategic Bitcoin Reserve. Lummis debuted the Bitcoin Act of 2024 which proposes the country create a reserve of the leading crypto. Its presence would strengthen the US dollar and ensure it remains a global cryptocurrency powerhouse. The bill will ultimately propose the US purchase of 1 million BTC by 2030. Moreover, the asset would be held for at least 20 years.

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