Analyst: US Senators and Congressmen do not understand cryptocurrency, Bitcoin strategic reserve carries risk
On November 15, Republican Senator Cynthia Lummis plans to push a bill when the new Congress convenes next year, demanding that the United States purchase 1 million Bitcoins, accounting for nearly 5% of the circulating tokens. In response to this, Jennifer J.Schulp, Director of Financial Regulation Studies at the Cato Institute's Center for Monetary and Financial Alternatives said: "This is still putting government money on a bet, and Bitcoin has not shown itself to be a particularly stable asset. The bill requires senators and congressmen to make greater leaps in confidence in its long-term viability while they may not understand cryptocurrencies so well."
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