US Could 'Erase' Its $39 Trillion Debt By Holding More Than 5% Of World's Bitcoin, Says Cynthia Lummis: S

Sen. Cynthia Lummis (R-Wyo.) said in a Wednesday podcast that the U.S. acquiring more than 5% of Bitcoin’s (CRYPTO: BTC) supply as a strategic reserve could “erase” the country’s ballooning national debt.

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In a conversation with Bitcoin Magazine host Spencer Nichols, Lummis stated that acquiring just 5% of Bitcoin’s total supply— roughly 1 million BTC—and holding it for 20 years could reduce the national debt, currently over $39 trillion, by one-third to one-half.

“And if we held even more than 5% of the world’s Bitcoin, it could actually erase our debt. So this is an important asset in a buy-and-hold strategy,” the cryptocurrency-friendly lawmaker added.

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