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Thousands of Americans have written to members of the Senate across the political divide, urging them to back Senator Cynthia Lummis's newly floated "strategic Bitcoin reserve" bill.
Thousands of Americans have written to their senators, urging them to support Senator Cynthia Lummis’s (R-WY) newly introduced “strategic Bitcoin reserve” bill.
Lummis announced the bill on July 27 at the Bitcoin 2024 conference, presenting it as a strategy to offset the impact of dollar debasement and help the U.S. become “debt-free.” She formally introduced the bill to the Senate on July 31.
U.S. Senators Pushed to Back Bitcoin Bill
According to an August 3 X post by Satoshi Action Fund founder Dennis Porter, Americans have sent over 2,200 letters to their senators, asking them to co-sponsor and support the new Bitcoin bill.
This included 1,333 letters sent to Democrats, 850 to Republicans, and 41 to Independents.
BIG BREAKING: In just 48 hours over 2,200 letters have been sent to U.S. Senators requesting them to co-sponsor and support the 'Strategic Bitcoin Reserve' bill.
?Democrats received – 1,333 letters
?Republicans received – 850 letters
⚪️Independents received – 41 letters
Shortly after the post was shared, Lummis took to X to thank everyone who had sent a letter in support of the Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act.
At the heart of the bill is a bold plan to gradually implement a 1-million-unit Bitcoin acquisition program, which would eventually amass about 5% of the total BTC supply. This would mirror the size and scale of gold reserves held by the U.S.
The bill also aims to affirm the self-custody rights of private BTC holders and stipulate that the strategic Bitcoin reserve should not infringe on individual financial freedoms. Among the politicians who have publicly supported the bill so far is presidential hopeful Donald Trump.
Follow Donald Trump’s Bitcoin strategy:
Donald Trump’s Bitcoin Plan Includes Scaling Back Crypto Enforcement
Read about Bitcoin’s long liquidations in the first two days of August:
Bitcoin Sees $280M in Long Liquidations Just Two Days into August
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