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Sen. Lummis’ reintroduced Bitcoin Act proposes a funding mechanism that does not require new tax revenue, instead utilizing Federal Reserve remittances and gold-backed Treasury certificates to cover the cost of purchasing Bitcoin

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It would also be paid for by the Treasury Department issuing new certificates for the Federal Reserve’s gold holdings reflecting current market prices. The Fed would then pay the difference between the old certificates and the new ones to fund the Bitcoin program
To cover expenses, the act designates the first $6 billion of annual Fed remittances from 2025 to 2029 for the Bitcoin Purchase Program

Related people

Cynthia Lummis

Related projects

Bitcoin
United States Senate

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Crypto news

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