The BITCOIN Act of 2024 with Senator Cynthia Lummis

In this episode, Joe and Nik sit down with Senator Cynthia Lummis of Wyoming for a detailed discussion of the United States' unsustainable debt problem, and how Bitcoin can help address it. Senator Lummis discusses the establishment of a Strategic Bitcoin Reserve (SBR), how Bitcoin can strengthen the US dollar's position as the world reserve currency, the geographic distribution of the SBR's private keys, what Proof of Reserves for the SBR will look like, and how holding Bitcoin on the United States' balance sheet for 20 years can take our unsustainable debt situation, with $35 trillion in national debt at a 125% debt-to-GDP ratio, and potentially cut it in half. The Bitcoin Layer is a bitcoin and global macroeconomic research firm. The Bitcoin Layer is proud to be sponsored by Unchained, the leader in Bitcoin financial services. Unchained empowers you to take full control of your Bitcoin with a collaborative multisig vault, where you hold two of three keys, and benefit from a Bitcoin security partner. Purchase Bitcoin directly into your cold storage vault and eliminate exchange risks with Unchained's Trading Desk. Unchained also offers the best IRA product in the industry, allowing you to easily roll over old 401(k)s or IRAs into Bitcoin while keeping control of your keys. Don’t pay more taxes than you have to. Talk to us today. Visit https://thebitcoinlayer.com/unchained and use code TBL for $100 off when you create an account. Subscribe and turn on notifications for TBL on YouTube. Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe Follow TBL on X: https://twitter.com/TheBitcoinLayer Subscribe to The Bitcoin Layer on your favorite podcast platform. Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch Block Height 854895 Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc Research Associate Joe Consorti's Twitter: https://twitter.com/JoeConsorti Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball #TheBitcoinLayer #NikBhatia #JoeConsorti #Bitcoin #BitcoinNews #BTC #Bitcoin #CynthiaLummis #BitcoinReserve #USDebt #NationalDebt #LummisBill #BitcoinLegislation #SenateFinance #WyomingSenator #BitcoinPolicy #DebtCrisis #USDollar #WorldReserveCurrency #FinancialReform #EconomicPolicy #USSenate #Lummis #BitcoinLaw #StrategicReserve #USFinance #Bloomberg #Analysis #Charts #Tradingview #InvestmentStrategy #MarketWatch #StockMarket #PassiveInvesting #IndexFunds #FinancialMarkets #MarketWatch #FreeMarket #FreeMarkets #Markets #USTreasury #TreasuryBills #BalanceSheet #FED #Debt #Inflation #Statistic #Rates #Interest #Asset #Bitcoin #Dollar #Sats #BTC #Market #Currency #Crypto #Analysis #Investment #News #Finance #Education #Blockchain #Mining #BitcoinMining #macro The Bitcoin Layer and its guests do not provide investment advice. Chapters: 00:00:00 - Introduction to the Bitcoin Act of 2024 00:03:12 - Bitcoin's Role in Balancing the Balance Sheet and Strengthening the Reserve Currency Position 00:06:32 - Strengthening the US Dollar with Gold and Bitcoin 00:10:32 - Shore up the US Dollar with Bitcoin 00:14:23 - Multi-signature Cold Storage for Bitcoin Reserve 00:17:48 - Bitcoin as a Strategic Asset in the United States 00:21:29 - Quarterly Proof of Reserve System 00:24:45 - Funding the Strategic Bitcoin Reserve 00:28:26 - Bitcoin as a Neutral Asset and Call to Action for Addressing National Debt 00:32:26 - Discussing the Bitcoin Act 2024

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