Senator Cynthia Lummis, Capitol Hill in his speech in the US as an alternative to the US $ 36 trillion -dollar debt BITCOIN ACT and the country’s current financial situation can be corrected, he said. In his statements, he said that traditional methods were inadequate and required a new approach.
Senator Lummis’ statements
Lummis argued that Bıtcoın Act is the only alternative to the solution of the country debt. With the acquisition of 200,000 Bitcoin each year, the formation of a total of 1 million bitcoin reserves for five years is expected to be preserved for at least twenty years in the long term.
Senator Lummis: “Bıtcoın Act is the only way to provide a solution to our country’s 36 trillion dollar debt. I am pleased to have the support of President Trump.”
Economic Warnings and Supports
Lummis stated that the current situation could be thrown into three different ways; search for debt default, hyperinflation or Bitcoin and technological innovations. In the warning that inflation will leave the working people in a difficult situation, the increasing money supply will resemble the examples of Zimbabwe and Weimar Republic.
Senator Lummis: “If we cannot pay our debts, the trust in the system disappears. We may face worse results than the Great Depression.”
In addition, Lummis, which draws attention to technology, stated that artificial intelligence, robots and crypto technology will increase productivity and contribute to economic growth by reducing costs. This approach emphasizes the role of technological developments in overcoming the current debt burden.
It is observed that BITCO has supported ACT at the congress. Nick Begich, a member of the House of Representatives, shared similar views by stating that the proposal could contribute to the country’s financial and monetary discipline. Bitcoin reserve, which was created by President Trump’s previous execution order, is also among this support.
Representative Nick Begich: “Americans are worthy of a financial foundation that offers discipline and confidence. BITcoın Act has these features.”
The proposal was put on the agenda for the first time last summer and was reconsidered at the “Bitcoin for America” meeting. Increased support between parties in both parliaments is expected to accelerate the progress of the proposal, while the existing executive order is intended to be enacted in order to provide legal assurance against future changes.
According to the data obtained, the Bitcoin reserve, which will be formed until 2049 in line with the recommended road map, may reach the level to balance the part of the national debt up to 21 trillion according to Vanck’s calculations. This is considered as a long -term solution in terms of ensuring economic discipline.
The bill stands out as an alternative strategy in the face of the bill, economic uncertainty and increasing inflation concerns. The technology and crypto -based approach aims to bring a new breath to the existing financial system.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
