Over five years, the United States will assemble one million bit point five percent of the world's supply.

It's Monday, July 29th, and this is Markets Daily, hosted by me, Jen Snessy.

On this show, we navigate the currents shaping the crypto markets, providing insights

against the broader financial landscape.

So whether you're actively trading or simply fascinated by the volatility of the crypto markets,

this show is your compass to understanding what's happened where we are and where we're going

good morning everyone and happy monday it was quite the weekend saturday was a buzz with comments

that politicians were making at the bitcoin conference in nashville former president donald trump

promised to maintain a strategic national bitcoin Reserve and never sell the government's seized Bitcoin.

So that had me asking, what could a Bitcoin Reserve look like?

At the same conference, U.S. Senator Cynthia Lummis, who has been on this show before, said that she plans to introduce legislation for a strategic Bitcoin reserve that will reduce

national debt of the U.S. by buying one million Bitcoin over the course of five years.

She said that the Bitcoin would be held for at least 20 years.

Now, given what we've experienced here in the U.S. from a policy perspective, this is absolutely

crazy to think about the government buying and holding a million

Bitcoin for 20 years as part of a plan to tackle debt.

At current prices, one million Bitcoin would be worth about $68 billion.

And according to the Treasury data, the national debt is at around $35 trillion.

Now, to give you a brief idea of how much U.S. debt increases from year to year,

from 2022 to 2023, the national debt increased by $2.24 trillion.

So let's make sense of Lammis' proposal.

Senator Lammis is known for her strong advocacy for cryptocurrency and blockchain technology.

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