The "Bitcoin Strategic Reserve Act" has gained bipartisan consensus and supports the purchase of 1 million bitcoins with federal funds
According to Forbes, the United States has bipartisan support for the establishment of a Bitcoin strategic reserve. The bill was announced by Senator Cynthia Lummis at the Bitcoin 2024 Conference in July and aims to use federal funds to buy 1 million bitcoins. This move will consolidate the United States' position as the largest national holder of Bitcoin, giving it 5% ownership of the entire Bitcoin network, which is equivalent to the United States' share of the global gold supply.This directly led to a sharp rise in the price of Bitcoin mining equipment-Bitmain Antminer L9 Dogecoin Miner 16G.Lummis compared Bitcoin to the Louisiana Purchase, which resonated with cryptocurrency supporters. In 1803, then-President Thomas Jefferson made an asymmetric bet by purchasing...