Wyoming Senator Cynthia Lummis strongly supports the new administration’s stance on cryptocurrency, particularly regarding Bitcoin 
$105,623 reserves. Lummis expressed that 2025 will be a significant year for cryptocurrencies, emphasizing the role of David Sacks, appointed as the “Crypto Czar” by the administration.
Emphasis on Bitcoin Reserves and Financial Responsibility
Senator Lummis stands out as one of the strongest advocates for cryptocurrency policies. In a recent statement, she noted that David Sacks’ role in the administration would be crucial for cryptocurrencies. Sacks is known as a prominent venture capitalist and former PayPal executive.
Strategic Bitcoin (BTC) Reserve Initiative
Bitcoin has been rising in excitement surrounding President Donald Trump’s U.S. strategic Bitcoin reserve, surpassing $108,000 on Tuesday, marking a new record. This development has sparked enthusiasm among cryptocurrency supporters.
2025 will be a crucial year for Bitcoin and cryptocurrencies. I look forward to passing comprehensive digital asset laws with David Sacks and establishing a strategic Bitcoin reserve.
— Senator Cynthia Lummis
Lummis aims to develop laws regarding cryptocurrencies and her strategic Bitcoin reserve proposal in collaboration with Sacks. This step indicates a significant federal shift towards digital currencies following Trump’s support for a national Bitcoin reserve.
The Wyoming senator argues that Bitcoin should be an integral part of U.S. financial policy. She proposes converting a portion of the U.S. Treasury’s gold into Bitcoin, planning to use gold certificates to ensure no impact on the federal balance sheet.
Lummis noted that this plan would not require a direct expenditure of $90 billion to buy Bitcoin at current prices. This marks the first statement connecting the national Bitcoin reserve plan to the Treasury’s gold reserves.
In November, Lummis stated that her proposal could help pay off half of the U.S. debt within 20 years and provide protection against inflation. She also mentioned that a strong dollar would give the U.S. enhanced bargaining power against competitors like China and Russia.
The U.S. steps towards cryptocurrency and Bitcoin reserves aim to bring innovative solutions to fiscal policies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
