Analyst: US congressmen and senators do not understand cryptocurrency, Bitcoin strategic reserves are at risk

Republican Senator Cynthia Lummis plans to push a bill when the new Congress takes office next year that requires the United States to acquire 1 million bitcoins, accounting for nearly 5% of the circulating tokens. In this regard, Jennifer J. Schulp, director of financial regulation research at the Cato Institute's Center for Monetary and Financial Alternatives, said: "This is still putting the government's money at stake, and Bitcoin has not shown itself to be a particularly stable asset. The bill requires senators and congressmen to take a greater leap of faith in its long-term viability, and they may not understand cryptocurrencies that well." (Bloomberg)