U.S. Senator Cynthia Lummis, a Republican from Wyoming, plans to push a bill when the new Congress takes office next year to sell some of the Federal Reserve's gold to build a strategic Bitcoin reserve. The bill requires the United States to purchase 1 million Bitcoins, nearly 5% of the outstanding tokens. At current market prices, the acquisition will cost about $90 billion, and if the bill is passed, the amount required for the acquisition may increase as investors act before the government buys. According to Loomis's vision, the holding period of cryptocurrency is at least 20 years, and its appreciation will help reduce the U.S. national debt
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