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United States Senator Cynthia Lammis delivers a highly anticipated speech with Senator Tim Scott at the Bitcoin 2024 conference in Nashville. However, the presentation did not reveal the rumors establishing Bitcoin as a US strategic reserve asset.
The Wyoming senator criticized the Securities and Exchange Commission for regulating the industry instead of enforcing the rule of law, before turning her attention to government financial regulation and laying out a Republican platform that would defend improved ownership and protection of digital assets.
“It's freedom money. It gives sovereignty to individuals, from the poor man to Michael Sallor.
A longtime crypto industry ally, Lummis and Scott addressed the role of the Bitcoin (BTC) mining industry in exploring new forms of energy and strengthening the United States' critical energy infrastructure, a recurring theme at this year's conference.
There is no announcement of Bitcoin Strategic Reserve.
In the days leading up to the Bitcoin 2024 conference, rumors swirled with speculation that a Wyoming senator would introduce legislation that would place bitcoin as a strategic reserve asset.
Related: Michael Saylor Raises BTC Price Forecast to $13M in Mega-Bullish Keynote – Bitcoin 2024
In the year On July 17, 2024, Mark Cuban described a scenario in which Bitcoin would become America's strategic reserve asset and global reserve currency due to the country's geostrategic collapse.
Cuban's assumption was echoed by asset manager Brian Courchesne, who said that while making bitcoin a strategic reserve asset is difficult in practice, it is still possible due to red tape. The analyst encouraged the US government to take advantage of its massive Bitcoin holdings of around 200,000 BTC, making the US government the largest known owner of a fraction of the asset.
However, Ari Paul, Chief Investment Officer of Blocktower Capital, has given the opposite opinion and predicted that the odds are 10:1 that Bitcoin will become a strategic reserve asset by 2028.
Creating opportunity zones using Bitcoin
Senator Tim Scott, the future chairman of the Senate Banking Committee, also discussed the possibility of using Bitcoin to create “opportunity zones”, which provide tax-free investment opportunities for developers who build in low-income communities.
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