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VanEck proposes that the U.S. could reduce its national debt by $42 trillion by adopting Bitcoin as a strategic reserve asset, potentially offsetting 35% of liabilities by 2049. The plan suggests accumulating one million Bitcoins over five years, leveraging existing government holdings and reallocating gold reserves, without requiring taxpayer funding. This initiative aligns with a bill from Senator Cynthia Lummis and aims to position Bitcoin as a dominant global asset, potentially representing 18% of the world's financial assets by mid-century.
The U.S. could cut its national debt by 35% by 2049 by establishing a reserve of 1 million Bitcoin, according to VanEck. This scenario assumes Bitcoin will grow at a 25% annual rate, reaching $42.3 million, while national debt rises to $119.3 trillion. The proposal, linked to Senator Lummis, suggests utilizing seized Bitcoin and selling part of gold reserves to finance the reserve without taxpayer funds.
A proposal by Senator Lummis for the U.S. government to acquire 1 million Bitcoin could lead to short-term price volatility, with expectations of a price pump followed by a rotation back. As Bitcoin consolidates around $100,000, its dominance is expected to decline, paving the way for altcoins to gain traction. Analysts believe Bitcoin will remain a key asset for institutions, with strong demand likely to sustain its price despite potential dips.
Nathan Frankovitz
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vanEck proposes bitcoin reserve to reduce us national debt by 42 trillion
12:59 23.12.2024
us bitcoin reserve could reduce national debt by 35 percent by 2049
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01:54 23.12.2024
us government bitcoin acquisition could trigger market volatility and altcoin rise
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06:07 14.12.2024
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