{"id":137381,"date":"2024-12-15T17:19:56","date_gmt":"2024-12-15T10:19:56","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=137381"},"modified":"2024-12-15T17:19:56","modified_gmt":"2024-12-15T10:19:56","slug":"senator-lummis-holds-talks-with-treasury-secretary-bessent-on-bitcoin-reserve-strategy","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=137381","title":{"rendered":"Senator Lummis Holds Talks With Treasury Secretary Bessent On Bitcoin Reserve Strategy"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400;\">In a significant step toward establishing a US strategic Bitcoin reserve, Senator Cynthia Lummis recently met with incoming Treasury Secretary Scott Bessent, according to a recent <\/span><a href=\"https:\/\/x.com\/SenLummis\/status\/1867607917534621952\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400;\">social media post <\/span><\/a><span style=\"font-weight: 400;\">on X (formerly Twitter) in which Lummis expressed optimism about Bessent\u2019s potential support for digital assets, particularly BTC.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Trump Rings The Bell For Crypto<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This meeting follows shortly after President-elect Donald Trump rang the opening bell at the New York Stock Exchange (NYSE), where he emphasized the need for the US to take decisive action in the cryptocurrency space.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In an <\/span><a href=\"https:\/\/finance.yahoo.com\/news\/sen-lummis-backs-treasury-nominee-220304235.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAIFyWr-kt-LWPvyO1a1zvECLSF9mIfEl0jsIFvqIPwRSpNCV4H4YgCS2JJvCT_Z_FbU_ForDlmpXoek1l2bU6jzSxLzLOQf3v1JDIE1KiGKofxpGRJH0pEUouC1IDGQyT4yG4XoPK3pJdweSr0Lph0SkodB66GhVl3gzhZPoTpFW&amp;_guc_consent_skip=1734222230\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400;\">interview <\/span><\/a><span style=\"font-weight: 400;\">with CNBC anchor Jim Cramer, Trump stated, \u201cWe are going to do something great with crypto because we don\u2019t want China, or anybody else, to be ahead,\u201d underscoring the urgency of the matter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Senator Lummis, echoing Trump\u2019s sentiments, extended her assistance, stating on X (formerly Twitter), \u201cI\u2019m ready to help you make this a reality.\u201d Lummis has been a longstanding advocate for Bitcoin, likening the current scenario to the \u201cSpace Race\u201d and framing it as a competition that America must win.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many Bitcoin supporters align with her vision, viewing the establishment of a <\/span><a href=\"https:\/\/bitcoinist.com\/senator-lummis-pushes-for-bitcoin-strategic-reserve\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">strategic reserve <\/span><\/a><span style=\"font-weight: 400;\">as essential to counteract the economic decline that the US has imposed on other countries over recent decades.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this push for a Bitcoin reserve has not gone unchallenged. Some members within the Bitcoin industry argue that while the goal is commendable, the approach may be misplaced.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They point out that the US government has seized over $1 billion in Bitcoin, yet the focus seems to be on creating a strategic reserve instead of addressing policies that would prevent aggressive asset seizures.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One industry leader, speaking anonymously, remarked, \u201cWe\u2019re missing the mark by a mile. Shouldn\u2019t we be protecting our rights rather than focusing on the loot?\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Lummis\u2019 Bitcoin Bill Gains Bipartisan Support<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In July, Lummis introduced a bill aimed at using existing government funds to purchase 1 million BTC. Initially drawing support primarily from Republican lawmakers, the bill has garnered<\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-reserve-legislation-gain-bipartisan-support\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> bipartisan backing<\/span><\/a><span style=\"font-weight: 400;\">, notably from Democratic Congressman Ro Khanna, who advocates for the US to take custody of its seized Bitcoin as a strategic reserve asset.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bitcoin adoption by nation-states could spark a digital gold rush, potentially diminishing the trend towards physical gold ownership. US policymakers may leverage Bitcoin as a strategic instrument to counter the efforts of countries like China and Russia, which are increasingly moving away from the US dollar and towards precious metals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the future of a Bitcoin strategic reserve in the US remains uncertain, the initiative signals a willingness to embrace <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-out-gold-in-senators-bold-proposal-to-replenish-us-reserves\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">technological innovation<\/span><\/a><span style=\"font-weight: 400;\">. For many Americans, it represents a shift towards a forward-thinking administration.\u00a0<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/OvWydOOa\/\" alt=\"Bitcoin\" width=\"1814\" height=\"858\"\/><figcaption class=\"wp-caption-text\">The daily chart shows BTC\u2019s price recovery above the $100,000 milestone. Source:<a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">At the time of writing, the market\u2019s leading crypto has regained the $101,420 level, recording a 1.5% increase in the weekly time frame.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Featured image from DALL-E, chart from TradingView.com<\/span><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/bitcoinist.com\/senator-talks-treasury-secretary-bitcoin-reserve\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a significant step toward establishing a US strategic Bitcoin reserve, Senator Cynthia Lummis recently met with incoming Treasury Secretary Scott Bessent, according to a recent social media post on &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=137381\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-137381","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/137381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=137381"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/137381\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=137381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=137381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=137381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}