| Key Points:
– Senator Cynthia Lummis reintroduces Strategic Bitcoin Reserve bill, proposing the U.S. government acquire 1 million BTC over five years. |
U.S. Senator Cynthia Lummis of Wyoming has announced plans to reintroduce the Strategic Bitcoin Reserve legislation in the Senate, an initiative aimed at incorporating Bitcoin into the nation’s financial strategy.
The announcement was made during the Bitcoin Policy Institute’s “Bitcoin for America” summit in Washington, D.C. However, the initiative is expected to face scrutiny as lawmakers debate its long-term viability and fiscal implications.
Senator Lummis Pushes for U.S. Strategic Bitcoin Reserve
According to reports, the bill has now appeared on Congress.gov, signifying its formal introduction into the legislative process. While this step allows lawmakers and the public to review its details, the proposal must still navigate committee reviews, debates, and votes in both the House and Senate before it can become law.
Originally introduced last year, the legislation calls for the U.S. government to accumulate 1 million Bitcoins over five years, storing them in a decentralized network of facilities.
The acquisition would be financed by diversifying existing Federal Reserve funds, with an initial $6 billion in remittances from reserve banks allocated annually between 2025 and 2029. Additionally, the bill proposes leveraging the Federal Reserve’s gold certificates to support the purchases.
“Bitcoin is not simply a technological opportunity, but a national imperative for America’s continued financial leadership in the 21st century,” Lummis stated.
The senator also emphasized that enshrining digital asset policies into law would help address national debt while ensuring the U.S. maintains its competitive edge in the global economy.
Trump’s Order Funds Bitcoin Reserve with Seized Assets
The bill has also received attention from the crypto community. Analysts are suggesting that the long-term significance of the U.S. Strategic Bitcoin Reserve may be about to become clear. Ryan Rasmussen, head of research at asset management firm Bitwise, highlighted what he sees as a market oversight regarding the initiative.
The reintroduction of the bill follows a significant executive order signed by President Donald Trump on March 6, which established a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The order directs policymakers to explore budget-neutral methods for Bitcoin accumulation, preventing additional taxpayer costs. Rather than direct market purchases, the reserve would be funded through seized digital assets from criminal and civil forfeitures. The plan includes approximately 200,000 BTC—valued at around $17 billion—managed under the Treasury Department’s oversight.
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