Pro-Bitcoin US Senator Cynthia Lummis said it would be a “great idea” for the Fed to buy Bitcoin.
Lummis spoke at a panel on the future of the crypto economy on Thursday. Asked by panel moderator Matt Sandgren, the executive director of the Hatch Foundation, which hosted the panel, about the Fed’s purchase of Bitcoin, the senator said, “Honestly, it’s a great idea,” adding:
“Legal and when it’s a regulatory framework, that would make a lot of sense. The fact that Bitcoin is completely decentralized will make it more common over time, and I think that’s something the Fed should keep on its balance sheet.”
Former Fed Vice Chairman Randal Quarles also took part in the panel. Quarles doesn’t think the central bank will be adding Bitcoin to its balance sheet anytime soon:
“For many political, economic reasons, I think it’s best for the Fed to maintain its current non-existent balance sheet [but] it should move more in that direction. needed.”
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