#MarketDownturn The “Bitcoin Act of 2024,” introduced in the US Senate by Senator Cynthia Lummis, seeks to establish a strategic Bitcoin reserve as part of the US Treasury’s assets.
This project proposes acquiring up to 1 million BTC over a five-year period, using existing funds without incurring new debt, which would be equivalent to approximately 5% of the total Bitcoin supply.
In addition, the proposal seeks to strengthen the right to self-custody of cryptocurrencies in the country.
The goal of this initiative is to diversify national reserve assets and position the United States as a leader in the cryptocurrency space, facing competitors such as China and Russia.
However, critics argue that this measure could centralize an asset designed to be decentralized and generate political controversy due to divergent positions in Congress and the current administration.
The impact of this proposal will depend on its legislative approval, the support of future administrations and the evolution of the Bitcoin market, which remains volatile and with polarized opinions among legislators and economists.
