Senator Cynthia Lummis proposes the creation of a strategic bitcoin reserve that could reduce the US national debt by 50% over the next 20 years.
At the DC Blockchain Summit, Senator Cynthia Lummis emphasized how Bitcoin, due to its scarcity, immutability, and durability, represents a strategic asset for long-term national stability. “If we hold bitcoin for 20 years—according to the best available models—we could cut our national debt in half,” she stated, referring to the $36 trillion US debt.
Through the Bitcoin Act, Lummis proposed the creation of a strategic bitcoin reserve, highlighting that it should be treated similarly to existing national reserves. The Senator stated:
“We have a strategic petroleum reserve, we have a strategic gold reserve, we have a strategic cheese reserve. Bitcoin is digital gold.”
Saylor’s perspective
Michael Saylor, CEO of Strategy, also attended the summit, declaring during his speech with the Senator that Bitcoin represents the “Manifest Destiny for the United States of America.”
Saylor reiterated his prediction that bitcoin’s price will reach $13 million over the next 20 years. Speaking at the Digital Asset Summit, he emphasized Bitcoin’s unique qualities as a scarce digital commodity, arguing that no other asset can compete.
Highlighting Bitcoin’s classification as a commodity rather than a security, the Strategy CEO stated:
“I can stand here and tell you that I think bitcoin’s price will reach $13 million in 20 years. I couldn’t say the same about a security, right?”
According to Saylor, Bitcoin is the only asset immune to human corruption. He refers to its origin as the product of what he calls an “immaculate conception.” Finally, he pointed out that unlike traditional commodities such as gold or oil—which can be extracted in greater quantities when prices rise—Bitcoin has a fixed supply of 21 million coins, making it the ultimate store of value.
