Summary
- Senator Cynthia Lummis stated that the U.S. could reduce its national debt by nearly half by strategically reserving Bitcoin.
- Lummis mentioned that the current national debt is about $36 trillion and that there is a model suggesting debt reduction is possible by holding Bitcoin for 20 years.
- She assessed Bitcoin as a strategic asset with value similar to digital gold.
Pro-cryptocurrency U.S. Senator Cynthia Lummis has claimed that the United States could reduce its debt by nearly half if it strategically reserves Bitcoin (BTC).
According to cryptocurrency-focused media Atlas21, Lummis recently stated at the DC Blockchain Summit in Washington D.C. that "with the national debt reaching approximately $36 trillion (about 5,135.5 trillion KRW), there is a model suggesting that holding Bitcoin for 20 years could cut the national debt in half."
Lummis added, "We strategically reserve oil, gold, and even cheese," noting that "Bitcoin, with its scarcity, immutability, and durability, holds strategic value akin to digital gold."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
