ChainCatcher news, according to Bitcoin Magazine on the X platform, U.S. Senator Cynthia Lummis stated that her "Bitcoin Strategic Reserve" bill is "the only viable solution that can reduce the national debt of the United States by half by 2045."

ChainCatcher news, according to information from the official website, the "U.S. Bitcoin Strategic Reserve Act" proposed by Senator Lummis·Cynthia has now been officially submitted to Congress and is under review by the Senate Banking Committee. The purpose of the bill is to "establish a strategic Bitcoin reserve and other projects to ensure the transparent management of federal government Bitcoin holdings, utilize certain resources of the Federal Reserve System to offset costs, and for other purposes."The bill will subsequently undergo review by the Senate, the House of Representatives, and the President to determine whether it will be passed into law.

ChainCatcher news, according to Cointelegraph, within 48 hours, U.S. senators received over 2,200 letters urging them to jointly initiate and support the "Bitcoin Strategic Reserve Act" proposed by Cynthia Lummis.Among them, the Democrats received 1,333 letters, the Republicans received 850 letters, and independents received 41 letters.

ChainCatcher News, U.S. Senator Cynthia Lummis from Wyoming officially introduced the "Bitcoin Strategic Reserve Act" on July 31, local time. This act will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets.More specifically, the act will create a "decentralized secure Bitcoin network treasury" controlled by the U.S. Department of the Treasury. The act also instructs lawmakers and bureaucrats to develop strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The act also proposes a goal of gradually accumulating 1 million Bitcoins.