The new “strategic Bitcoin reserve measure” is the subject of over 2,200 letters that pressure U.S. senators to support it.
The recently proposed “strategic Bitcoin reserve” measure, which Senator Cynthia Lummis has introduced, has garnered the support of thousands of Americans from both political parties.
On July 27, Senator Lummis introduced the bill at the Bitcoin 2024 conference, advocating for it as a means of mitigating the consequences of dollar debasement and achieving a debt-free U.S. In a formal proposal to the Senate on July 31, Lummis introduced the measure.
Dennis Porter, the founder of the Satoshi Action Fund, stated in an August 3 X post that Americans have submitted more than 2,200 letters to their senators, imploring them to endorse and support the new Bitcoin measure.
This comprised 1,333 letters addressed to Democrats, 850 to Republicans, and 41 to Independents. Immediately following the post’s publication, Senator Lummis expressed her gratitude to all those who had submitted letters in support of the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act on X.
At the heart of the measure is a daring strategy to gradually establish a 1-million-unit Bitcoin acquisition program in order to accumulate approximately 5% of the total BTC supply. This would be consistent with the magnitude and scope of the gold reserves that the United States maintains.
Additionally, the measure aims to ensure that the strategic Bitcoin reserve does not violate the financial freedoms of individual BTC holders and to affirm the self-custody rights of private BTC holders. Donald Trump, a presidential candidate, is among the politicians who have publicly supported the bill thus far.
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