- Cynthia Lummis responded to Elon Mask regarding the Bitcoin reserve transparency
- She says it can be audited by anyone with a computer and internet 24/7
- It aligns with initiatives to make government costs transparent and accountable
Recently appointed as Chair of the Senate Banking Subcommittee on Digital Assets – Senator Cynthia Lummis responded to Elon Musk that the Bitcoin reserve can be audited 24/7 from any computer, unlike other US reserves.
This is part of an ongoing initiative to establish a Bitcoin reserve and more transparent and accountable government reserves, costs, and agencies.
More About Senator Cynthia Lummis’ Statement
It all started with a post on X in which a user tagged Elon Musk in the context of his rigorous audits of federal agencies and their systems for transparency and accountability. The interest was in how much gold is actually held in US reserves, information that very few people can directly verify.
Elon Musk didn’t ignore this appeal, especially since he recently suggested moving the US Treasury to blockchain:
Senator Cynthia Lummis responded, once again pointing out that if a Bitcoin reserve is established – literally anyone with a computer and internet access can check it.
A similar example is well known, it is the official site of El Salvador Bitcoin Reserve, which shows up-to-date information about all reserves, transactions, etc.
Conclusion
There seems to be more and more movement towards Bitcoin Reserve adoption, but there are no concrete plans yet. As David Sacks recently pointed out “the feasibility of Bitcoin reserve is One of the first things,” but right now there is action being taken regarding stablecoins and RWAs.
This could take a long time, or come out in a moment like so many other decisions of the Trump administration. Be aware and stay tuned for updates on the rapidly reshaping crypto landscape.
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