>> thank you so much for the incredible panel. look at this crowd. this is incredible. 30 minutes was not enough for this incredible panel. some super predictions on the stage. [applause] we are going to the moon, guys. let's go. >> republican senator cynthia, who chairs banking subcommittee on digital assets spoke alongside marsha blackburn and jim just to sit with virginia

and las vegas. the senators highlight and why they believe the government should establish a crypto currency policy. >> i'm joined by three of the most pro- innovation members of congress. [cheering and applauding] they all recognized what bitcoin means to all of us. senator, i thought we would talk with you.

we will do market structure and then bitcoin strategic reserve. at that time will follow you to help members of congress interstates to understand the importance. so important our country, other

countries are moving in the direction of establishing bitcoin preserves. united states needs to lead in this area. >> i agree. here, our nation is $36 trillion in debt. >> thank you so much for being with us today and thank you to all of you for being here. some of us talked this morning and in nashville in my home state of tennessee, it's really a turn for bringing things forward, pushing forward on things like cynthia's bill for

the strategic reserve and that's where she introduced a bill and we are supporting her effort. the reason this is important is a bitcoin reserve will provide alternative instability you don't get from government bonds are currency or gold. it's important to have that option. we look at this, knowing our allies what will we do, and it's important for us to take these assets we have. the bitcoin government already owns and use that and continue

to buy into that. >> i agree. senator justice. >> i'm a business guy. i'm not a politician. i'm the new kid on the block. i came with white hair and not looking to do the chairman of committees or whatever it may be. with all inmates, i know exactly what the city is. you are not afraid. too many people are afraid. bitcoin represents protection, strategic, pragmatic, growth. we are $37 trillion in debt today. you hold the key right now. what we have to do is some way,

and somehow make you become reality. you will go much lower. we need every one of you but today is your day. we can do it today. thank you so much. [applause] >> this week we will hear about institutions. liberty seen countries, how important is it? >> when china forbade mining of bitcoin, they did the united states with the public prayer paper because the operations came here. president trump declared his stand for making bitcoin mining in america so that's a good area

to start but having strategic reserve is the ultimate way of having geopolitical advantage in our military who understands economic power is as important as military power in addressing aggressors around the world and there are generals and military right now were big supporters of a strategic bitcoin reserve for that reason. then we have states who are incubators of innovation. senator justice was the governor of west virginia. senator blackburn is going to be the next governor of tennessee. the states where the innovation is occurring so you have arizona, texas and hampshire

that passed strategic bitcoin reserve this year. you have 30 states considers bitcoin preserves. we have united arab emirates purchasing bitcoin through american exchange trade funds and that's good for america because they are going to build their wealth through american etf. all over the world. it is leading to the state, but it is important our government includes among its strategic assets bitcoin is digital world. we have about 5% of the world's

gold and we need at least 5% of the worlds bitcoin and reserves. [applause] >> to complement our strategy reserves senator blackburn, how you look at that going alongside other reserves? >> we should do that much on getting these in place so important. our allies follow what we do so if you want to get a good in the moment snapshot watch what's happening with the negotiation. everybody wants to be part our market part of our trade and they will follow what we do and

senator said, we already see countries establishing these reserves so it's vitally important we hold this is a portion of our reserves. senator justice mentioned that nation knowing we can continue by, supplies limited, you cut 21 million coins knowing we can use this as a store of value knowing we can hedge against that as we work to pay them that that so we remain sovereign nation, this is one of the instruments we had we talk about think the tools in the toolbox.

this is a tool add to the toolbox and we should. another thing that we should do to show the importance of bitcoin is to have those available federal employee on our federal retirement option in the message that would send president trump has been stelar environment and providing the support necessary for us as legislatures to move forward confidently in this space back and adoption continues to grow. every year it keeps getting bigger and i think that will continue. how bridge the gap so adoption

continues and how we get communities who haven't had a fanatical following is this group here? >> i would like you pay close attention to me for a second. first of all, i have the opportunity to be governor of west virginia for eight years and now i'm in the u.s. senate. honored beyond belief, but with all that said, when i want to the door as the governor of west virginia, was as upside down as upside down could possibly be. maybe in a lot of ways similar to where we are in america today. the whole thing is i see this entire situation is one thing and one thing alone. senator said we got to get the economics right. many will ask me many times, what is the most important thing you do? i promise you this, it's all

about the economics because when you have economics right, you can do all kinds of things right for all kinds of people. if you have economics screwed up, you can't do anything for anybody. it makes everything happen from the economic. it does all the other stuff but when it boils down to it, what do we do here? we make headway in the map national debt more real headway in people's lives so there's the problem. they don't get it, and you may wonder, who are toby and edith? there the voters. with that, stay with me another second. here the deal. if we get to the time that's hope and pray we get there to where they bitcoin at walmart

and as they use bitcoin they saved themselves all kinds of money into new all kinds of goodness all over the place, how do we make it happen? they don't understand, it becomes a marketing problem, and understanding problem but let me tell you this. when toby and edith get it, everything happens and like speaks for all of us. all gestation, everything in every way starts happening at light speed. why? we need both. all the politicians want to be reelected. toby and edith control the act salute controlled so with all that said, who got to do one thing. we got to make sure wherever we

go we bring toby and edith with us. if we do, all kinds of things will happen. [applause] >> all eyes on d.c. so i agree with that implementing is this important. how does the reserve become infinite in the way that is responsible? when you are 37 trillion in debt, you don't want to borrow more money to buy bitcoin, you want to use assets that are underperforming. but mike so the bitcoin act would use the money senator blackburn mentioned in the asset forfeiture account to be the basis for the first bitcoin.

we think we have about 200 and forfeitures. we are so fun trying to find out the exact number. it's been classified so the three of us are going to have to go to a classified briefing to understand the forfeiture funds. that said, and years to provide we can buy 200,000 bitcoin converting what we have what's called gold certificate held by the united states after 1974 value which is between $36.45. each of those could be brought up to market value for gold over $3000 now and use it to buy bitcoin and have enough asset and underperforming assets that

we can get 5% of the worlds bitcoin borrowing a single dime. [applause] >> so everybody by bitcoin now. [laughter] >> each of you spent a ton of time in the home to your home district. i would love to hear questions you get about your support of bitcoin and innovation as you travel back home. >> as i mentioned, nashville is an entrepreneurial town and we have bit going in nashville and all across our wonderful state whether select, middle, or the east, we have bitcoin mining operations choosing to locate there in tennessee. we have a wonderful reliable

energy source. we are a leader and working on nuclear power the work that tba is doing and with smrs so people in tennessee are beginning to pay attention to this. i will add developing commercialized network you got companies locating their. in tennessee people like the idea that you have bitcoin coming into the state mining operations coming into the state. they look at the high-paying jobs and look at this is just of the future. see companies like oracle or

amazon, this x a.i. memphis and as they choose tennessee to be the home, people say is going to get us jobs for our kids and grandkids so they are making room companies and putting the pressure to make certain they can supply all of our needed. >> i love to hear that senator justice, how about west virginia? >> west virginia surely a ways to go like a lot of states. we got to get the understanding correct but i want to the for second because one thing enormously important, i have the privilege of being on the small business committee and the

energy many. if we don't watch, we are going to spin around a couple of times in a year end a half we are going to have an energy crisis like you can't imagine we got to get moving right now. you can't imagine what a player you are energy sector coming at us and we need you so bad, it's off the charts, but west virginia is an energy state and with got smart people are that have done an awful lot so we understand energy. west virginia knows energy and they know the crisis at our doorstep and they know the potential you have. that's why i go back to this,

all of us together, we are from three different states in three different areas. but we all get it. all in this room, we get it "got to do is make sure those out there get it because when they get it, all the politicians and everybody will move at light speed like i've said. with got a ways to go but we can get there now. we've got to pull together right this minute. a long time ago used to look at me and say not part of the phone home so it's got to be super proud right now so let's get with it.

>> would love to hear about wyoming and what everybody here could do to support this bill as well. >> wyoming exports full-time more energy than consumed so we know how to produce energy. we have bitcoin mining equipment will right next to oil and gas wells not yet connected to pipelines. they are mining using the methane so we are getting an environmental win-win and there are other examples of where bitcoin mining is used to take advantage of energy and like they are doing in texas so in

texas they will clampdown during the day and activities not mining bitcoin related ramp up at night. bitcoin in terms of energy consumption and adaptability is helping pave the way to artificial intelligence. we know the one impediment for american dominance artificial intelligence is in our need for energy and bitcoin is helping transition costs a much more nation as we move into artificial intelligence stage. >> if i could add on, she mehere thing we are doing in tennessee

is engaging the hyper sailors on the reactors and finding ways to balance this and increase the base coat supply of energy beginning to engage minors and hyper sailors and we look forward to nuclear power generation as mr. >> we -- sort of in conclusion about how we get this done, there's a reason the bitcoin reserve is coming after market structure refers to many members in congress who don't understand why you need a bitcoin reserve. that's for you come in. what we have been doing since the bill was filed last september for people to look at and start talking about trying to find out who understands it

can help us get past. alaska represented. we are involved in the senate but it's going to be a heavier lift than i thought because so many people don't understand. the use case for bitcoin or strategic importance of bitcoin tells us, teach them. talk to your senators. write an article, you will wild, get on social media. get where you can help address the issues with them. we know why need one, the united states senate and the house of representatives know why we need one and wants is a greater mass members of congress, the president is 20 step in and this effort. >> i want to thank you all for this