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

Odaily News Republican Senator Cynthia Lummis plans to push a bill when the new Congress takes office next year that would require the United States to acquire 1 million bitcoins, nearly 5% of the circulating token. In response, 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 bigger leap of faith in its long-term viability, and they may not know that much about cryptocurrencies."