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In a bold escalation of the crypto-policy debate, Senator Cynthia Lummis has publicly asserted that Bitcoin is the only solution capable of addressing the mounting national debt burden facing the United States. Her comments come amid rising tensions over monetary policy, inflation, and the role of digital assets in reshaping finance.
How Bitcoin Could Reshape Treasury Markets
Senator Cynthia Lummis has once again made headlines with her support for Bitcoin, stating in a recent Bloomberg interview that BTC is the only solution to America’s mounting national debt. According to a crypto news source, CryptosRus, posted on X, that Lummis expressed her pro-Bitcoin stance, mentioning that BTC is an asset that will continue to grow over time and is the key to offsetting the burgeoning national debt.
Lummis highlighted the concept of a strategic BTC reserve, asserting that it represents the sole viable strategy to offset the national debt. However, CryptosRus noted that her consistent advocacy makes her one of Washington’s most ardent supporters of BTC, pushing for its integration to play the core role of US fiscal strategy.
Several companies are actively preparing for this move. An emerging euro-denominated Bitcoin treasury backed by Tyler and Cameron Winklevoss, Treasury_BTC, has announced the appointment of Tycho Onnasch as its new head of BTC strategy. Onnasch is widely recognized within the BTC community for his foundational work on BTC scaling solutions, insightful market analysis, and deep conviction in BTC.
Onnasch’s impressive background includes founding Zest Protocol, a leading BTC yield and landing platform, which is supported by BTC heavyweights Tim Draper and Binance Founder Changpeng Zhao. Academically, Tycho holds a degree from Oxford University, with a specialization in economic history. His achievements were further acknowledged with his inclusion in Forbes’ prestigious 30 under 30 Europe list. Onnasch’s role will be instrumental in driving the company’s BTC strategy and influencing its approach to market interpretation.
A Healthier Foundation For Bitcoin Next Leg Higher
CryptosRus has also reported that BTC has recently experienced its most significant open interest meltdown of its current cycle since the liquidation event that occurred on October 10. The data reveals substantial drops across major platforms, with Binance’s open interest decreasing by $4 billion, Bybit by over $3 billion, and Gate by more than $2 billion. Due to this liquidation event, traders have not rushed back in with leverage.
Typically, leverage rebuilds quickly after a wipeout, but the slow recovery from this current scenario suggests that the market confidence is shaken. This sentiment explains the current slow and choppy price action, as the market operates with reduced leverage and fewer aggressive positions.
CryptosRus pointed out that when leverage undergoes such a significant reset, the market often leads to an increase in stability. It lowers the risk of another sudden cascade of liquidations and establishes a healthier foundation for the next price movements. The expert concluded that this is a BTC reset, not a breakdown.
