there is a lady named cynthia lummis who wants to make a new rule about something called bitcoin. a man named pierre rochard thinks the new rule is good. some people don't like the new rule, but pierre rochard says they are wrong. if the new rule happens, the people in charge will buy some bitcoins and keep them safe for a long time, maybe 20 years! this will help the people in charge with money stuff. Read from source...

Here are some of them in the article titled `Cynthia Lummis' Bitcoin Reserve Legislation Gets Support From Riot Platforms Executive: 'I' m More Bullish On BTC For The Next 20 Years'`:

1. Criticisms against Senator Cynthia Lummis' BITCOIN Act were defended by Pierre Rochard, VP of Research at Riot Platforms, who presented arguments against some of the common objections.

2. Rochard argued that Bitcoin has improved over time and he is more bullish about its prospects for the next 20 years.

3. Another counterargument was to use stockpiles of utility, such as oil or medicine. In response, Rochard stated that Bitcoin's utility stemmed from its unique characteristics, such as its decentralized nature, which prevents transfer disruptions, and immunity to foreign sabotage.

4. Complaints that a reserve would imply government control over Bitcoin were described as a misunderstanding of how the cryptocurrency works. Rochard explained that the government can control its own private keys and nodes but not other people's private keys.

5. The proposed law by Lummis advocates the implementation of a $1 million purchase program to acquire 5% of the total supply of the apex cryptocurrency over a 5-year period. The bill also outlined that no Bitcoins held in the reserve should be sold or auctioned for a minimum holding period of 20 years.

6. Former President Donald Trump has also expressed support for a national Bitcoin stockpile, noting in one of the interviews that it could be used to "wipe out" $35 trillion worth of U.S. debt.

7. The reaction to the legislation has been divided, with influential economist Justin Wolfers being one of the most vocal critics.

8. At the time of writing, Bitcoin was exchanging hands at $61,019.12, up 3.27% in the last 24 hours, according to data from Benzinga Pro.

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