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Sen. Cynthia Lummis to Empower US Fed to Hold Bitcoin
- Senator Cynthia Lummis proposes giving the Federal Reserve the authority to own Bitcoin.
- Lummis suggests establishing a strategic Bitcoin reserve as a financial backstop for the US dollar.
- Her proposal includes phased purchase of 1 million Bitcoins over five years.
- US Federal Reserve chair Jerome Powell opposes establishing a national Bitcoin reserve.
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