At the “Bitcoin for America” summit held today by the Bitcoin Policy Institute in Washington D.C., U.S. Senator Cynthia Lummis from Wyoming revealed her plans to reintroduce her strategic Bitcoin reserve legislation in the Senate.
Senator Lummis expressed, “I am thrilled to announce that I will be reintroducing The Bitcoin Act today.” She added, “I will soon be joined by Senator Justice from West Virginia, one of the bill’s cosponsors, along with several other supporters. This enthusiasm is largely due to the excitement that has been building.”
“Current cosponsors include [Tommy] Tubberville, [Marsha] Blackburn, [Roger] Marshall, [Bernie] Moreno, and [Jim] Justice,” Lummis elaborated. “We’re also in discussions with a couple more potential original cosponsors today, while the House, led by Nick Begich, has six original cosponsors.”
In alignment with Senator Lummis’ efforts, Congressman Nick Begich announced he will be introducing the Bitcoin reserve legislation in the House today as well.
“Today, I will introduce the Bitcoin Act of 2025 in the United States House,” Congressman Begich stated. “This innovative legislative proposal aims to secure the United States’ financial independence and uphold its leadership in the global digital economy.”
“The momentum is on our side, and we need to act decisively. Fortunately, President Trump is in support of us and the prospects are limitless,” concluded Lummis.
Just last week, President Donald Trump signed an executive order to establish a federal strategic Bitcoin reserve. This reserve will include confiscated bitcoins from federal government actions such as hacks and seizures, potentially reaching around 200,000 BTC, pending an official audit. However, this reserve could be susceptible to reversal by future administrations. The Bitcoin Act of 2025 aims to address this concern by proposing that the United States acquire 200,000 bitcoins annually until reaching a total of 1,000,000 BTC, to be retained for a minimum of 20 years.
According to asset management firm VanEck, which oversees $115 billion, this strategic bitcoin reserve “could help alleviate national debt,” indicating that “if the U.S. government adheres to the roadmap proposed by the BITCOIN Act, which seeks to amass 1 million BTC by 2029, our projections suggest this reserve could counterbalance roughly $21 trillion of national debt by 2049.”
