At the FMQ Conference, U.S. Senator Cynthia Lummis (R-WY) discussed the priorities she’d like to focus on should Republicans be in control of the Senate next year. One novel change she wants to make is the trademark of the U.S. dollar.
“There’s no trademark or copyright protecting the term ‘U.S. dollar,'” Lummis said. “It’s high time that we protected that via copyright. I know that sounds minor but it’s just a way of placing a card on the table that says ‘we’re going to protect the integrity and recognition of our currency as the world’s reserve currency.'”
She’s also proposed a bitcoin strategic reserve. How would that work?
In her conversation with CNBC Correspondent Emily Wilkins, Lummis said the U.S. government already holds 200,000 bitcoin. So the first step is to encourage the U.S. to stop selling its bitcoin, and the next is to purchase one million bitcoin over four years. We would do that, she says, by taking the gold certificates that the U.S. already holds on the books at an artificially low value and bringing those gold certificates up to current market value. Then we take that market value, convert it to bitcoin, hold it for 20 years.
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