Senator Lummis suggests U.S. selling gold to purchase 200,000 Bitcoin yearly for five years

S. government should consider holding Bitcoin in its reserves, claiming that it would provide a hedge against inflation. Lummis, who has been a long-time advocate for cryptocurrencies, believes that Bitcoin’s fixed supply of 21 million coins makes it an attractive store of value.

Lummis argues that the current monetary policy of printing more money to stimulate the economy will eventually lead to inflation, devaluing the U.S. dollar. She believes that holding Bitcoin would diversify the country’s reserves and protect against the risks associated with traditional fiat currencies.

While some experts have expressed skepticism about Lummis’s proposal, others agree that Bitcoin could serve as a hedge against inflation. Mark Yusko, the CEO of Morgan Creek Capital Management, has stated that Bitcoin is a better store of value than gold, which is often used as a traditional hedge against inflation.

In addition to providing a hedge against inflation, Lummis believes that holding Bitcoin would also benefit the U.S. in terms of innovation and technological advancement. She argues that embracing cryptocurrencies would position the country as a leader in the digital economy and encourage investment in blockchain technology.

Lummis’s proposal has sparked a debate among policymakers and economists about the role of Bitcoin in the government’s reserves. While some view it as a risky investment due to its volatility, others see it as a potential opportunity to diversify the country’s assets.

Overall, Senator Cynthia Lummis’s suggestion to hold Bitcoin in the U.S. reserves has raised important questions about the future of currency and the role of cryptocurrencies in the global economy. As the debate continues, it remains to be seen whether the U.S. government will take steps to embrace Bitcoin and other digital assets as part of its financial strategy.