Wyoming Senator Cynthia Lummis announced a landmark "Strategic Bitcoin Reserve" bill at the 2024 BTC Conference, which received more than 2,200 letters seeking co-sponsorship in just 48 hours, showing the growing attention of the political world to Bitcoin. Lummis emphasized the fiscal crisis facing the United States and the urgent need to establish a Bitcoin reserve to ensure financial security, while also pointing out the positive changes that the Trump administration may bring to the crypto industry.

Key Points

- Senator Cynthia Lummis's "Strategic Bitcoin Reserve" bill attracted more than 2,200 letters of co-sponsorship requests in 48 hours.

- Among the letters, Democratic senators received 1,333, showing a bipartisan trend in support for Bitcoin.

- Lummis warned that the United States' nearly $35 trillion debt cannot be ignored, so Bitcoin reserves must be established.

- She compared Bitcoin reserves to other ways of storing value, such as strategic oil reserves.

- Lummis's cooperation with Democratic Senator Kilbrand demonstrated bipartisan support for Bitcoin-related legislation.

- She is highly optimistic about the Trump administration, believing that it will bring benefits to the new regulations of the crypto industry.

- Loomis pointed out that more and more mainstream financial institutions accept Bitcoin, reflecting that it is becoming a legitimate asset class.