The post Senator Lummis Urges US Action as Czech Republic Moves to Adopt Bitcoin Reserve appeared first on Coinpedia Fintech News
In a recent development, the Czech Republic plans to adopt a Bitcoin reserve. Senator Cynthia Lummis is urging the US to act on its own Bitcoin reserve proposal before the Czech Republic does. Lummis’ proposal has inspired other countries to consider creating their own Bitcoin reserves, but the US has not yet implemented the plan.
She has emphasized the urgent need for the US to establish a strategic Bitcoin reserve.“If you’re not first, you’re last. America must take decisive action to establish a Strategic Bitcoin Reserve and secure its place in the 21st century,” she shared in an X post.
Inspired by Donald Trump’s crypto policies, countries like the Czech Republic are moving to adopt Bitcoin. Meanwhile, Arizona and Utah have recently passed Bitcoin bills, pushing forward progressive financial policies.
Notably, Senator Lummis made her comments after the Czech Republic announced plans to hold billions of dollars in Bitcoin reserves. On Wednesday, Governor Ales Michl revealed the country’s intention to introduce a Bitcoin acquisition bill, which, if passed, would make the Czech Republic the first nation to hold a BTC reserve.
In early January, Governor Michl expressed interest in adding Bitcoin to the Czech National Bank’s (CNB) balance sheet for diversification. CNB has now revealed plans to allocate over $7.3 billion, or 5% of its balance, into Bitcoin.