Sen. Cynthia Lummis (R-Wyo.) reintroduced legislation Tuesday to establish a U.S. Strategic Bitcoin Reserve, aiming to transform President Donald Trump’s executive order into federal law.
BITCOIN Act Revived to Bolster Federal Digital Asset Reserves, Address National Debt
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Sen. Lummis Reintroduces Bill to Codify Trump’s Strategic Bitcoin Reserve Plan
The bill, dubbed the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act” (BITCOIN Act), proposes acquiring 1 million Bitcoin units over time to secure roughly 5% of the cryptocurrency’s total supply. The reserve would mirror the scale of U.S. gold and oil holdings and funding would come from diversifying existing Federal Reserve and Treasury assets.
“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 strengthening our nation’s economic foundation for generations to come,” Lummis stated in a Tuesday post on X. “ Bitcoin is not simply a technological opportunity, but a national imperative for America’s continued financial leadership in the 21st century.”
The bill, last proposed in July 2024, follows Trump’s recent executive order to create a strategic digital asset stockpile. Republican Sens. Marsha Blackburn, Roger Marshall, Bernie Moreno, Jim Justice, and Tommy Tuberville are co-sponsors. Republican Rep. Nick Begich is leading a companion House version. Bitcoin’s price fluctuated wildly this week, dipping to $76,600 amid macroeconomic tensions.
The legislation now heads to committee review, where lawmakers will weigh its fiscal implications and long-term viability. “By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy,” Lummis said on Tuesday.
