Senator Lummis to Re-Introduce Bitcoin Act Bill

Senator Cynthia Lummis is set to reintroduce the Bitcoin Act, which aims to create a Strategic Bitcoin Reserve for the United States. This move aligns with President Donald Trump’s recent push to integrate Bitcoin into national financial policies.

Lummis’ Years-Long Bitcoin Support

Cynthia Lummis is a U.S. Senator from Wyoming and one of the biggest supporters of Bitcoin in Congress. She has been involved in politics for years, previously serving as Wyoming’s State Treasurer and later as a U.S. Representative. The senator has been advocating for Bitcoin since 2013.

Lummis has gained more influence under Trump’s leadership. She now chairs the Senate Banking Subcommittee on Digital Assets and the Senate Western Caucus, focusing on energy and financial policies. Her position allows her to shape laws related to Bitcoin and other digital assets, and her leadership roles in key financial committees have given her the power to push for major changes, including the Bitcoin Act.

The Bitcoin Act aims to create a Strategic Bitcoin Reserve controlled by the U.S. Treasury. This reserve would serve as a backup financial asset for the country. The bill proposes a program to buy up to one million Bitcoins over five years and keep them for at least 20 years. The goal is to strengthen the U.S. economy and financial system.

Regarding today’s announcement, Senator Lummis said:

“Today, I am proud to reintroduce landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthen our nation’s economic foundation for generations to come.”

The subcommittee chairwoman added that if the Bitcoin Act is successful, the country would accumulate as many as one million units of the leading cryptocurrency. She added that President Donald Trump supported the idea.

What This Means for the U.S.

If the Bitcoin Act passes, the U.S. government will officially recognize Bitcoin as a valuable financial asset. Supporters believe this could help reduce the national debt and boost the economy.

Lummis’ reintroduction of the Bitcoin Act signals a significant shift in U.S. financial policy, reinforcing Bitcoin’s growing role in the global economy.