US lawmakers from both sides of the political spectrum are rallying around a proposal to create a strategic Bitcoin reserve for the US.
Senator Cynthia Lummis introduced legislation to use existing federal funds to purchase one million BTC, positioning the United States as the largest nation-state holder of the cryptocurrency.
Support for a strategic Bitcoin reserve is crossing party lines, with Democrat Representative Ro Khanna endorsing the idea.
Khanna argues that Bitcoin held by the US government from confiscations should be retained as a strategic reserve, allowing the US to benefit from its value over time.