Support for Lummis’ Bitcoin Act Grows with 13 Co-Sponsors
Wyoming Senator Cynthia Lummis reintroduced the BITCOIN Act, aiming to buy 1 million BTC ($83.6 billion) over five years, mirroring US gold reserves. The bill now has 13 sponsors, including five Republican senators and six co-sponsors in the House.
In Bitcoin mining news, a miner using DIY equipment discovered a block, earning 3.125 BTC ($262,000) plus fees. This individual had a low chance of finding a block, estimated at less than 1 in a million per day.
Internationally, some Russian oil companies are using BTC for trades with India and China. Payments occur via yuan that is converted to crypto, facilitating transactions worth tens of millions monthly. Bolivia's state energy provider YPFB plans to use crypto for energy imports amid dollar shortages.
Discussion on the Supply Shock podcast included potential BTC adoption by BRICS nations as a pricing system for global oil trade, bypassing US dominance.