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    Home»Bitcoin»Senator Lummis Reintroduces BITCOIN Act for 1M BTC Buy – Bitbo
    Senator Lummis Reintroduces BITCOIN Act for 1M BTC Buy – Bitbo
    Bitcoin

    Senator Lummis Reintroduces BITCOIN Act for 1M BTC Buy – Bitbo

    By Crypto EditorMarch 12, 2025No Comments2 Mins Read
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    Senator Lummis Reintroduces BITCOIN Act for 1M BTC Buy – Bitbo

    Key Takeaways

    • Senator Lummis reintroduced the BITCOIN Act at a Bitcoin convention.
    • The invoice proposes buying as much as 1 million BTC over 5 years.
    • Trump’s govt order formalized insurance policies for seized Bitcoin belongings.

    Senator Cynthia Lummis introduced the reintroduction of the BITCOIN Act at this time at a Bitcoin Coverage Institute convention.

    The occasion featured notable Bitcoin advocates, together with Michael Saylor and Vivek Ramaswamy.

    Background of the invoice

    Lummis first proposed the invoice in July 2024, but it surely failed to achieve bipartisan help, successfully expiring on the finish of the 2023–2024 congressional session.

    To stay energetic, laws have to be reintroduced in a brand new session.

    Strategic Bitcoin Reserve proposal

    Underneath the brand new proposal, the Treasury would oversee a strategic Bitcoin reserve with safe, decentralized storage throughout the U.S.

    The invoice additionally contains provisions for dealing with Bitcoin forks and airdrops, requiring a five-year retention interval for such belongings.

    Bitcoin buy program

    The act proposes a Bitcoin Buy Program that may purchase as much as 1 million BTC over 5 years, with holdings maintained for not less than 20 years.

    Transparency measures embrace impartial proof-of-reserve audits. States would even be allowed to retailer Bitcoin in segregated accounts.

    Funding the acquisition

    To fund the acquisition, the invoice allocates the primary $6 billion of annual Federal Reserve remittances from 2025 to 2029.

    Legislative context

    Lummis’ proposal follows President Donald Trump’s govt order final week, which formalized insurance policies for managing seized Bitcoin belongings however didn’t embrace new purchases.

    David Bailey, CEO of BTC Inc, emphasised that legislative motion is the subsequent step in securing a strategic Bitcoin reserve.

    Bitbo Dashboard → / Authentic Article

    Get extra information like this

    Twice-weekly Bitcoin-only publication by Bitbo.



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