The bill, reintroduced with minor modifications, follows the executive order signed by President Trump to establish a strategic Bitcoin reserve.
Senator Cynthia Lummis, a well-known advocate for digital assets, has reintroduced her bill to create a national strategic Bitcoin reserve.
Originally proposed in July 2024, Lummis’ bill aims to “strengthen America’s balance sheet.” Officially titled the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act” (Bitcoin Act), the latest version includes some minor adjustments.
The initiative comes just days after President Trump signed an executive order to establish a strategic Bitcoin reserve and a digital asset reserve.
In a statement on X, the Wyoming senator commented:
“By turning the President’s visionary executive action into a lasting law, we can ensure that our nation fully leverages the potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy.”
Lummis’ bill proposes creating a “decentralized network of secure Bitcoin vaults” managed by the U.S. Treasury Department with specific regulatory requirements. It also includes a “1 million bitcoin acquisition program” over a set period, aiming to hold approximately 5% of bitcoin’s total supply, mirroring the size and scope of U.S. gold reserves.
According to the bill, the reserve would be funded by diversifying existing funds within the Federal Reserve and the Treasury Department.
Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno co-sponsored the bill. Senator Tuberville stated:
“Creating a strategic Bitcoin reserve is a crucial step to ensuring the United States remains the world’s strongest economy. There is no reason why we shouldn’t use Bitcoin to reduce our national debt.”
