Sen. Cynthia Lummis reintroduced a invoice to ascertain a nationwide Bitcoin reserve, codifying Trump’s govt order into legislation.
The invoice proposes buying 1 million BTC over 5 years utilizing Federal Reserve remittances and gold certificates.
Trade reactions are combined, with some praising the initiative whereas others query whether or not solely Bitcoin must be included.
Sen. Cynthia Lummis (R-Wyo.) has reintroduced laws to create a nationwide Bitcoin reserve, aiming to codify President Trump’s current govt order into legislation.
ICYMI: 🇺🇸 Senator Cynthia Lummis reintroduced the ‘Bitcoin Act’ immediately
Proposing the acquisition of 1 million Bitcoins over 5 years as a part of the U.S. Strategic Reserve
Lummis’ proposal, first launched final 12 months, would require the federal government to buy 1 million Bitcoin over the following 5 years. These holdings can be saved in a “decentralized community” of safe storage amenities.
“Bitcoin is just not merely a technological alternative, however a nationwide crucial for America’s monetary management within the twenty first century,” Lummis acknowledged.
coinbase.com
How Would the Authorities Fund Bitcoin Purchases?
The invoice outlines a budget-neutral strategy, directing funds from:
$6 billion in annual remittances from the Federal Reserve (2025-2029)
Gold certificates issued by the Federal Reserve
Lummis argues this may strengthen the U.S. economic system whereas addressing nationwide debt considerations.
How Is This Totally different from Trump’s Plan?
Whereas Trump’s govt order focuses on Bitcoin seized by legislation enforcement, Lummis’ invoice proposes actively buying BTC via authorities reserves.
Trump’s strategy additionally consists of:
A Bitcoin Strategic Reserve for BTC holdings
A Digital Asset Stockpile for non-Bitcoin belongings forfeited in prison or civil circumstances
David Sacks, Trump’s crypto and AI czar, emphasised that the plan would “not value taxpayers a dime.”
“The federal government is not going to purchase further belongings past these obtained via forfeiture,” Sacks wrote on X.
Nonetheless, Trump’s order additionally directs Treasury and Commerce departments to discover budget-neutral methods for buying further BTC.
Trade Reactions
The transfer has drawn combined reactions from the crypto neighborhood. Whereas many celebrated the institution of a Bitcoin reserve, others questioned whether or not solely BTC must be included, elevating considerations concerning the inclusion of different digital belongings in a separate stockpile.
With Lummis’ invoice now again in Congress, the push to solidify Bitcoin’s function in U.S. monetary coverage is gaining momentum. Whether or not this initiative will acquire bipartisan help or face regulatory roadblocks stays to be seen.
