Senator Cynthia Lummis (R-WY) has announced plans to introduce legislation directing the U.S. government to accumulate 1 million Bitcoin, which would be worth over $68 billion at current prices.

Speaking at the Bitcoin 2024 conference in Nashville, Lummis said the bill would have the U.S. Treasury purchase Bitcoin over a 5-year period as a strategic reserve asset to fortify the dollar. She likened it to the government’s strategic petroleum reserve.

“We know from modelling the numbers and past experience with Bitcoin that it is capable of being an absolute game changer for the mess the United States has gotten itself into with its debt and its deficits,” says Lummis.

The senator said the…

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