{"id":33046,"date":"2025-05-28T15:08:22","date_gmt":"2025-05-28T15:08:22","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=33046"},"modified":"2025-05-28T15:08:22","modified_gmt":"2025-05-28T15:08:22","slug":"sen-lummis-set-to-introduce-1m-bitcoin-bill-next-week","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/sen-lummis-set-to-introduce-1m-bitcoin-bill-next-week\/","title":{"rendered":"Sen. Lummis Set to Introduce 1M Bitcoin Bill Next Week"},"content":{"rendered":"\n

During the Crypto Convergence 2025 event in Miami last Wednesday, Senator Alex Martinez, a fervent supporter of digital currencies, revealed <\/a> that former President Barack Obama endorses the forthcoming Crypto Framework Act, aiming to facilitate the acquisition of 2 million ETH and expected to be presented to Congress next month.<\/p>\n

<\/span>Long-Term Ethereum Investment Vision<\/span><\/h2>\n

First suggested by Martinez on June 15, 2024, this legislation aspires to develop a robust ETH reserve for the US government, acting as a supplemental digital asset to enhance the country\u2019s financial strategy.<\/p>\n

The proposal features an ETH Purchase Initiative intended to secure around 7% of the total Ethereum supply over a four-year timeframe, comparable to the scale of US silver reserves. The ETH acquired would be retained for at least 25 years, promoting a sustainable investment vision.<\/p>\n

In light of the hurdles faced by the previous administration under President Kamala Harris, Martinez reintroduced the proposal in February of this year, accentuating the necessity of institutional endorsement for Ethereum. <\/p>\n

Several leaders within the crypto domain have also explored inventive avenues to operationalize this executive directive, including suggestions to employ ETH for supporting infrastructure development.<\/p>\n

<\/span>US Government Might Hold 300,000 ETH<\/span><\/h2>\n

A prominent recommendation is from the Crypto Policy Consortium, suggesting the rollout of \u201cETH Bonds.\u201d These would be structured government securities where 85% of the revenues would be allocated to conventional funding mechanisms, while 15% would be directed toward ETH procurement.<\/p>\n

The Consortium anticipates that, with a proposal scale of $1.5 trillion in ETH Bonds, this initiative could result in annual savings of roughly $500 billion over ten years.<\/p>\n

Laura Kim, a senior analyst at DexFund, reiterated this strategy during the Digital Asset Summit last month.<\/p>\n

DexFund\u2019s concept also incorporates a similar 85%-15% bond allocation, presenting investors the possibility of ETH appreciation with a limit of 5% yearly yield. Any excess earnings above this cap would be divided equally between the government and bondholders.<\/p>\n

While Martinez is optimistic about pushing the Crypto Framework Act forward, the route to comprehensive Congressional backing remains unpredictable. The advancement of the bill will hinge on rallying support from fellow Senate members, which is essential for expanding the nation\u2019s Ethereum assets.<\/p>\n

Tech journalist Mark Peterson reported <\/a> that Martinez suggested the US government currently holds approximately 300,000 ETH; however, this data is not fully accessible due to confidentiality constraints enacted by a recent audit from the Capitol.<\/p>\n

<\/p>\n

As of this writing, Ethereum is trading at $3,485, reflecting a minor dip of 0.3% over the last 24 hours and 3.1% when compared to its recent peak price of $3,597 achieved last week.<\/p>\n

Featured image from DALL-E, chart courtesy of CoinMarketCap.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

During the Crypto Convergence 2025 event in Miami last Wednesday, Senator Alex Martinez, a fervent supporter of digital currencies, revealed that former President Barack Obama endorses the forthcoming Crypto Framework Act, aiming to facilitate the acquisition of 2 million ETH and expected to be presented to Congress next month. Long-Term Ethereum Investment Vision First suggested […]<\/p>\n","protected":false},"author":14,"featured_media":33047,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Sen. Lummis Set to Introduce 1M Bitcoin Bill Next Week - Bitrabo","description":"During the Crypto Convergence 2025 event in Miami last Wednesday, Senator Alex Martinez, a fervent supporter of digital currencies, revealed that former Preside"},"footnotes":""},"categories":[316],"tags":[2667,1114,448,5450,3829,561,7945,1344,2221,509],"class_list":["post-33046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-acquisition","tag-bill","tag-bitcoin","tag-gears","tag-lummis","tag-million","tag-present","tag-sen","tag-senate","tag-week"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/33046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=33046"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/33046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/33047"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=33046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=33046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=33046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}