Senator Cynthia Lummis has said that funding efforts for a US Strategic Bitcoin Reserve (SBR) could begin at any time.
However, Lummis also noted that legislative procedures are causing delays. Her statement came in response to a video shared by Jeff Park, Chief Investment Officer at ProCap BTC.
In the video, Park and Bitcoin advocate Anthony Pompliano discussed how the US government might use unrealized gains from its gold holdings to invest in Bitcoin.
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Park suggested that using around $1 trillion in paper profits from gold would be a small risk when compared to the government’s overall debt, which is about $37.88 trillion.
He explained that if Bitcoin
Lummis stated that the video is a strong case for establishing the reserve and supporting the BITCOIN Act.
At this stage, the method of raising funds for the reserve remains uncertain. According to official government information, the reserve would start with Bitcoin currently held by the US Treasury, assets taken through legal seizures.
Additional Bitcoin could be added later through funding approaches that do not increase taxpayer costs.
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