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Just In: Senator Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin

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Just In: Senator Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin - CoinGape

Quick Summary:

Republican Senator Cynthia Lummis of Wyoming is proposing a plan to sell part of the Federal Reserve’s gold holdings to fund the purchase of one million Bitcoin for a national strategic reserve.

This move comes amid Bitcoin’s recent price rally to an all-time high of $93,500 following Trump’s election win.

Her bill, known as the BITCOIN Act (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide), would authorize the acquisition of up to one million Bitcoin.


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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 19:10:42 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 249 words

Reading Time: 2 minutes read

Sentences: 32 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23590630

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About CoinGape

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Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 17 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

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The story "Just In: Senator Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin" has 249 words across 32 sentences, which will take approximately 2 - 3 minutes for the average person to read.

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The story "Just In: Senator Cynthia Lummis Proposes Fed Gold Sale To Buy 1M Bitcoin" was covered 1 weeks ago by CoinGape, a news publisher based in India.

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CoinGape is a fully independent (privately-owned) news outlet established in 2017 that covers mostly crypto news.

The outlet is headquartered in India and publishes an average of 17 news stories per day.

It's most recent story was published 10 hours ago.

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  • News ID: #23590630
  • URL: https://beamstart.com/news/just-in-senator-cynthia-lummis-17316117133010

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