US national debt topped $39 trillion in mid-March, with debt held by the public exceeding $31 trillion, according to the report cited by Odaily. The Congressional Budget Office expects the fiscal 2026 deficit to reach $1.9 trillion and projects public debt to climb to $56 trillion by 2036. Against that backdrop, Senator Cynthia Lummis continues to promote the BITCOIN Act, a proposal that would require the US Treasury to buy as many as 1 million BTC over five years and hold the assets for at least 20 years. There is still no official confirmation that any purchase has taken place. Lummis said on June 16 that, based on her model, such holdings could reduce US national debt by one-third to one-half. She also said she expects the Treasury to begin buying Bitcoin before the end of 2026. The report cited Bitcoin.com News as the source.
US debt climbs past $39 trillion
US national debt exceeded $39 trillion in mid-March, while debt held by the public rose above $31 trillion, according to the report carried by Odaily.
The Congressional Budget Office projects a $1.9 trillion deficit for fiscal 2026. It also expects public debt to increase to $56 trillion by 2036.
Lummis keeps backing the BITCOIN Act
Senator Cynthia Lummis is still pushing the BITCOIN Act. The proposal would require the US Treasury to acquire up to 1 million BTC over five years and hold the position for at least 20 years.
There is no official confirmation that any purchase has been made.
Lummis said on June 16 that her model shows the holdings could cut US national debt by one-third to one-half. She also said she expects the Treasury to start buying Bitcoin before the end of 2026.
The report cited Bitcoin.com News.
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