New bill proposes making bitcoin a reserve asset for the U.S. Fed

Republican Senator Cynthia Lummis of Wyoming has drafted a bill proposing that the U.S. Federal Reserve (Fed) include bitcoin as a reserve asset alongside gold and foreign currencies. According to FOX Business, the move is aimed at strengthening the U.S. monetary system and stabilizing the dollar.

Cynthia Lummis believes that including bitcoin in the Fed's reserves will help ensure the stability of the U.S. currency. She plans to present her bill at the Bitcoin 2024 conference, where she will address Donald Trump, hoping for his support.

Despite the innovative nature of the proposal, Lummis' bill faces major obstacles in the Senate. However, the senator is actively seeking support among her colleagues, especially in the Senate Banking Committee, in an effort to gain their support and make them co-sponsors of the bill.

Cynthia Lummis' proposal to include bitcoin in the Fed's reserve assets is a bold and innovative move. If the bill receives support, it could be an important turning point in the history of the U.S. and global financial systems, strengthening bitcoin's position as a significant financial instrument.

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