Today on the Bitcoin Coverage Institute’s “Bitcoin for America” summit in Washington DC, U.S. Senator from Wyoming Cynthia Lummis introduced that she goes to reintroduce her strategic Bitcoin reserve laws within the Senate at this time.
“I am so pleased to announce that today I will be reintroducing The Bitcoin Act,” Senator Lummis said. “And I’ll be joined here shortly by Senator Justice of West Virginia, who is one of the cosponsors. And we have several other additional cosponsors. And a lot of it is a result of the excitement that’s been building.”
“So far cosponsors are [Tommy] Tubberville, [Marsha] Blackburn, [Roger] Marshall, [Bernie] Moreno, and [Jim] Justice,” Lummis continued. “We have a couple more feelers out for original cosponsors today but, the House as well through Nick Begich, has six original consponsors.”
Complimentary to Senator Lummis’ Bitcoin act within the Senate, U.S. Congressman Nick Begich introduced he may even be introducing the Bitcoin reserve laws within the Home at this time.
“Today, I will be introducing the Bitcoin Act of 2025 in the United States House,” Congressman Begich stated. “This is a bold and forward looking legislative initiative designed to ensure the United States secures its financial independence and maintains its leadership in the global digital economy.”
“The momentum is in our hands and we need to make this happen. Thankfully, President Trump is with us and the opportunities are boundless,” Lummis concluded.
Simply final week, President Donald Trump signed an govt order to create a federal strategic Bitcoin reserve. The reserve is to be made up of confiscated bitcoin by the federal authorities from hacks and seizures, creating an estimated reserve of about 200,000 BTC, pending an official audit. Nonetheless, this reserve, because it stands, has the potential to be overturned by future presidential administrations. Laws just like the Bitcoin Act of 2025 would clear up this potential challenge as it might see america buy 200,000 bitcoin per 12 months till it has purchased a complete of 1,000,000 BTC — to be held for no less than 20 years.
$115 billion asset supervisor VanEck claims that this strategic bitcoin reserve “could help offset national debt”, stating that “if the U.S. government follows the BITCOIN Act’s proposed path – accumulating 1 million BTC by 2029 – our analysis suggests this reserve could offset around $21 trillion of national debt by 2049.”
