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    Home»Bitcoin»Lummis’ BITCOIN Act Permits US to Maintain Over 1M BTC – Bitbo
    Lummis’ BITCOIN Act Permits US to Maintain Over 1M BTC – Bitbo
    Bitcoin

    Lummis’ BITCOIN Act Permits US to Maintain Over 1M BTC – Bitbo

    By Crypto EditorMarch 12, 2025No Comments2 Mins Read
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    Lummis’ BITCOIN Act Permits US to Maintain Over 1M BTC – Bitbo

    Key Takeaways

    • Lummis’ BITCOIN Act permits the US to carry over 1M Bitcoin.
    • The invoice mandates buying 200,000 BTC per 12 months for 5 years.
    • Bitcoin can be acquired through forfeitures, presents, and state contributions.

    Senator Cynthia Lummis has reintroduced the BITCOIN Act, permitting the US authorities to amass and maintain greater than 1 million Bitcoin.

    The invoice, first launched in July, mandates the acquisition of 200,000 BTC yearly over 5 years, utilizing present Federal Reserve and Treasury funds.

    Key provisions

    The revised invoice, formally referred to as the Boosting Innovation, Expertise, and Competitiveness by means of Optimized Funding Nationwide (BITCOIN) Act of 2025, additionally permits Bitcoin acquisitions past this restrict by means of civil or legal forfeitures, presents, and transfers from federal businesses.

    Moreover, US states can contribute their Bitcoin holdings to the federal reserve, which can be saved in a segregated account.

    Legislative intent

    Lummis acknowledged at a March 11 Bitcoin Coverage Institute convention:

    By remodeling the president’s visionary govt motion into enduring regulation, we are able to be certain that our nation will harness the complete potential of digital innovation to deal with our nationwide debt whereas sustaining our aggressive edge within the international financial system.

    The invoice has new co-sponsors, together with Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.

    Further modifications

    Different key modifications embrace a proper analysis course of for Bitcoin forks and airdrops.

    After a compulsory holding interval, the Secretary will retain essentially the most invaluable forked asset based mostly on market capitalization whereas making certain Bitcoin stays the dominant asset within the reserve.

    Context of reintroduction

    The reintroduction follows President Trump’s current govt order establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, which can initially use forfeited Bitcoin and budget-neutral methods for accumulation.

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