Senator Lummis: "If the US Secures 1 Million Bitcoins, It Could Halve the National Debt"

Pro-cryptocurrency U.S. Senator Cynthia Lummis has proposed that the United States should secure 1 million Bitcoins (BTC) as a strategic reserve asset in order to reduce the national debt.

According to Coinpedia, a crypto-specialized media outlet, on the 6th (local time), Senator Lummis recently stated in a Bloomberg interview: "If Bitcoin is made a long-term national strategic asset for the United States and 1 million coins are accumulated over 20 years, it could halve the national debt, which stands at $33 trillion."

Lummis explained, "At the initial stage, the U.S. Marshals Service (USMS) can utilize some of the cryptocurrencies it already possesses through asset forfeitures from crimes, allowing for seed funding without the need for additional legislative procedures." However, she emphasized that clear legal safeguards would be necessary in the long term.

Senator Lummis highlighted that the Bitcoin strategic reserve plan should be limited only to Bitcoin. She reasoned this by citing the security and long-term reliability of its Proof-of-Work (PoW) network structure. According to her, only Bitcoin meets the requirements as a strategic asset.

She stated, "Bitcoin should be treated like oil reserves," adding, "As the U.S. faces economic competition with China, gaining leadership in the digital asset market will become a crucial national strategic task." She also pointed out that high-ranking U.S. military officials in Southeast Asia similarly regard Bitcoin as a strategic asset.

Lummis evaluated, "(Trump's) proactive investment decisions on digital assets are visionary moves." She further stressed, "For the U.S. to maintain competitiveness in the digital economy, it will be important for more citizens to participate in the early adoption of cryptocurrencies."

The outlet added, "If Lummis's proposal becomes actual policy, Bitcoin could emerge as a core asset in national fiscal management and spark a paradigm shift in U.S. economic policy."