On May 21, Senator Cynthia Lummis doubled down on her push for Bitcoin adoption, saying, “This is what I’ve been saying. Americans are ready to upgrade our reserves.”
She cited a recent survey conducted by the Nakamoto Project, where they reached out to 3,345 Americans to learn about their opinion about Bitcoin reserve. The survey revealed that 4 out of 5 Americans were willing to convert some US gold reserve into Bitcoin.
Texas Passes Bitcoin Reserve Bill
The statement comes after Texas passed a historic Senate Bill 21, which directs the establishment of the Texas Strategic Bitcoin Reserve. With this approval, Texas becomes the third state to form a strategic Bitcoin reserve after New Hampshire and Arizona.
The legislation will allow Texas state to make an investment directly into the biggest cryptocurrency, Bitcoin, which is currently booming through the roof. Just a few hours ago, BTC created a new all-time high after breaking a crucial resistance level of $109,000.
On March 6, U.S. President Donald Trump signed an executive order to a Strategic Bitcoin Reserve, which directs to creation of an SBR through Bitcoins held by the government or seized in enforcement action. The U.S. government currently holds approximately 200,000 BTC, and the reserve is expected to provide economic stability and financial resilience.
However, this executive order has disappointed many crypto investors as it does not include a clause to acquire additional Bitcoins. It burst the clouds of hope of those who were waiting to see a rally in the cryptocurrency.
Senator Cynthia Lummis’s remark indirectly points out netizens’ confidence in BTC.
Also Read: Senate Votes 66-33 to Advance GENIUS Crypto Regulation Act
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