In a significant stride towards integrating digital currencies into the United States economic framework, Republican Senator Cynthia Lummis recently announced her plans to reintroduce the ‘Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide’ (BITCOIN) Act. This comes closely on the heels of President Donald Trump’s executive order establishing a Strategic Bitcoin (BTC) Reserve.
Senator Lummis Reintroduces The ‘Bitcoin Act’
During a press conference at the National Press Club in Washington, D.C., Senator Lummis outlined her intentions to reintroduce the BITCOIN Act. The bill aims to create a structured Bitcoin purchase program, garnering support from prominent Republican Senators including Jim Justice, Marsha Blackburn, Bernie Moreno, Roger Marshall, and Tommy Tuberville. “We intend to make a real push to help people understand why Bitcoin is freedom money,” Lummis stated emphatically.
Prior to the announcement, the senator expressed her commitment to this initiative, stating she is “for real this time.” She showcased a video featuring crypto investors inquiring about the U.S. Strategic Bitcoin Reserve, captioned, “₿ig things are coming.” The original proposal to establish a strategic Bitcoin reserve was introduced on July 31, 2024, with the objective of bolstering the nation’s balance sheet through Bitcoin as an additional store of value.
The BITCOIN Act proposes purchasing an estimated 5% of the total Bitcoin supply, or approximately 1 million BTC, over a five-year period. The plan not only mirrors the size and scope of the U.S. gold reserves but also includes a stipulation to hold these assets for a minimum of 20 years.
‘Codifying’ President Trump’s SBR Vision
In a broader context, Senator Lummis asserted that the reintroduction of the BITCOIN Act aims to solidify President Trump’s vision for a Strategic Bitcoin Reserve, enhancing the U.S. economic foundation for future generations. “Together, we are not just adapting to the future – we are actively shaping it,” she proclaimed.
The BITCOIN Act is back, and we are writing the next chapter in America’s proud history of financial innovation and securing lasting prosperity for all our citizens.
Lummis highlighted the significance of transforming the president’s executive action into legitimate law, emphasizing its potential in addressing national debt while maintaining the U.S.’s competitive advantage in the global economy. This legislative push follows Trump’s recent executive order creating a Strategic Bitcoin Reserve, which would be funded by cryptocurrency seized through government-related forfeiture proceedings.
In an addition to Lummis’ efforts, U.S. House of Representatives member Nick Begich has introduced a companion bill, titled the “Bitcoin Act of 2025.” This initiative reinforces the notion that the U.S. must secure its financial independence and leadership in the evolving digital economy, echoing parallel sentiments from Lummis’s proposed legislation.
