Following US President Donald Trump’s govt order establishing a Strategic Bitcoin (BTC) Reserve, Republican Senator Cynthia Lummis introduced she would reintroduce her Reserve invoice within the Senate to implement a BTC buy program.
Senator Lummis Reintroduces The ‘Bitcoin Act’
On the Nationwide Press Membership in Washington, D.C., Senator Cynthia Lummis revealed she is going to reintroduce the Boosting Innovation, Expertise, and Competitiveness by means of Optimized Funding Nationwide (BITCOIN) Act within the US Senate immediately.
Lummis introduced that Republican Senators Jim Justice, Marsha Blackburn, Bernie Moreno, Roger Marshall, and Tommy Tuberville will co-sponsor the invoice. “We intend to make an actual push to assist individuals perceive why Bitcoin is freedom cash,” she reportedly stated throughout the announcement.
Forward of the assertion, the senator affirmed that she is “for actual this time,” sharing a video compilation of crypto traders asking a couple of US Strategic Bitcoin Reserve (SBR) with the textual content “₿ig issues are coming.”
Lummis initially launched the laws on July 31, 2024, to ascertain “a strategic Bitcoin reserve to function a further retailer of worth to bolster America’s steadiness sheet and make sure the clear administration of Bitcoin holdings of the federal authorities.”
The invoice aimed to implement a Bitcoin Buy Program to purchase round 5% of the overall BTC provide, or 1 million BTC, over 5 years, mirroring the “dimension and scope” of the US gold reserves. The laws proposed a maintain interval of no less than 20 years for the BTC acquired beneath the acquisition program.
Authentic BTC Buy Program proposal. Supply: lummis.senate.gov
‘Codifying’ President Trump’s SBR Imaginative and prescient
In a separate assertion, Senator Lummis asserted that “The BITCOIN Act is again,” expressing her pleasure to reintroduce the “landmark laws that can codify President Trump’s daring imaginative and prescient to ascertain the US Strategic Bitcoin Reserve and strengthening our nation’s financial basis for generations to return.”
Collectively, we aren’t simply adaption to the longer term – we’re actively shaping it, writing the subsequent chapter in America’s proud historical past of monetary innovation and securing lasting prosperity for all our residents.
This transfer follows US President Donald Trump’s current govt order to formally create a Strategic BTC Reserve and a “Digital Asset Stockpile.” As reported by Bitcoinist, the order, signed on March 6, said that the SBR could be funded by crypto seized from authorities legal and civil forfeiture proceedings.
Lummis added, “By remodeling the president’s visionary govt motion into enduring legislation, we will be certain that our nation will harness the complete potential of digital innovation to handle our nationwide debt whereas sustaining our aggressive edge within the international financial system.”
Furthermore, US Home of Representatives member Nick Begich launched a companion invoice to Senator Lummis’ proposed laws. The Republican Consultant offered the “Bitcoin Act of 2025” to the US Home, co-sponsored by Representatives Addison McDowell, Troy Downing, Mike Collins, Pat Harrigan, Mike Rulli, and Troy E. Nehls.
Begich defined that the laws is “designed to make sure the US secures its monetary independence and maintains its management within the international digital financial system.”
BTC's efficiency within the one-week chart. Supply: BTCUSDT on TradingView
Featured Picture from Unsplash.com, Chart from TradingView.com
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