US Senator: "Individual states will start strategic Bitcoin reserves before the federal government"
Summary
- Senator Lummis predicted that state governments are more likely to adopt Bitcoin as strategic reserves before the federal government.
- She mentioned that the UAE is already purchasing Bitcoin, emphasizing the importance of quick decision-making.
- She reported that Arizona and Utah are in the final stages of approving Bitcoin reserve legislation, with related discussions ongoing in 18 states.
U.S. Senator Cynthia Lummis has predicted that individual states are more likely to begin strategic Bitcoin reserves before the federal government.
According to Bloomberg on the 1st (local time), Senator Lummis said at a conference held in New York the previous day, "State governments serve as laboratories of innovation, and we'll see states emerge that hold Bitcoin as strategic reserves before the federal government does."
She also added, "The United Arab Emirates (UAE) is already purchasing Bitcoin, and such countries can make decisions quickly without being bound by the democratic republic system," and "The introduction of strategic Bitcoin reserves in the U.S. may take longer than cryptocurrency supporters would like."
Meanwhile, some state governments, including Arizona and Utah, are in the final stages of approving legislation related to strategic Bitcoin reserves, with similar proposals pending in 18 states.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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