Following US President Donald Trump’s executive order establishing a Strategic Bitcoin (BTC) Reserve, Republican Senator Cynthia Lummis announced she would reintroduce her Reserve bill in the Senate to implement a BTC purchase program.
Senator Lummis Reintroduces The ‘Bitcoin Act’
At the National Press Club in Washington, D.C., Senator Cynthia Lummis revealed she will reintroduce the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the US Senate today.
Lummis announced that Republican Senators Jim Justice, Marsha Blackburn, Bernie Moreno, Roger Marshall, and Tommy Tuberville will co-sponsor the bill. “We intend to make a real push to help people understand why Bitcoin is freedom money,” she reportedly said during the announcement.
Ahead of the statement, the senator affirmed that she is “for real this time,” sharing a video compilation of crypto investors asking about a US Strategic Bitcoin Reserve (SBR) with the text “₿ig things are coming.”
Lummis originally introduced the legislation on July 31, 2024, to establish “a strategic Bitcoin reserve to serve as an additional store of value to bolster America’s balance sheet and ensure the transparent management of Bitcoin holdings of the federal government.”
The bill aimed to implement a Bitcoin Purchase Program to buy around 5% of the total BTC supply, or 1 million BTC, over 5 years, mirroring the “size and scope” of the US gold reserves. The legislation proposed a hold period of at least 20 years for the BTC acquired under the purchase program.
Original BTC Purchase Program proposal. Source: lummis.senate.gov
‘Codifying’ President Trump’s SBR Vision
In a separate statement, Senator Lummis asserted that “The BITCOIN Act is back,” expressing her excitement to reintroduce the “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.”
Together, we are not just adaption to the future – we are actively shaping it, writing the next chapter in America’s proud history of financial innovation and securing lasting prosperity for all our citizens.
This move follows US President Donald Trump’s recent executive order to officially create a Strategic BTC Reserve and a “Digital Asset Stockpile.” As reported by Bitcoinist, the order, signed on March 6, stated that the SBR would be funded by crypto seized from government criminal and civil forfeiture proceedings.
Lummis added, “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.”
Moreover, US House of Representatives member Nick Begich introduced a companion bill to Senator Lummis’ proposed legislation. The Republican Representative presented the “Bitcoin Act of 2025” to the US House, co-sponsored by Representatives Addison McDowell, Troy Downing, Mike Collins, Pat Harrigan, Mike Rulli, and Troy E. Nehls.
Begich explained that the legislation is “designed to ensure the United States secures its financial independence and maintains its leadership in the global digital economy.”
BTC's performance in the one-week chart. Source: BTCUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
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