Senator Lummis Asserts Bitcoin as Solution to US National Debt

Senator Cynthia Lummis has emphasized Bitcoin ([BTC](https://holder.io/coins/btc/)) as the solution to the US national debt, advocating for a strategic BTC reserve. She is recognized as a strong supporter of BTC in Washington, pushing for its integration into fiscal strategy.

Bitcoin Treasury Initiatives

Tyler and Cameron Winklevoss-backed Treasury_BTC has appointed Tycho Onnasch as head of BTC strategy.
Onnasch, known for his BTC scaling solutions and analysis, founded Zest Protocol and holds an Oxford degree in economic history.
His role will shape Treasury_BTC's market strategy and BTC approach.

Market Developments

BTC experienced a major open interest decline, with Binance seeing a $4 billion drop, Bybit over $3 billion, and Gate more than $2 billion.
This event led to reduced leverage, indicating shaken market confidence and slow price recovery.
A significant leverage reset suggests increased market stability, reducing the risk of liquidations and establishing a healthier foundation for future BTC movements.

Bitcoin