U.S. Senator Tommy Tuberville is collaborating with numerous lawmakers nationwide to unveil the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act” — commonly referred to as the BITCOIN Act — in the U.S. Senate.
The purpose of this legislation is to create a Strategic Bitcoin Reserve, intended to act as an additional store of value to enhance America’s balance sheet amidst the rapidly growing cryptocurrency market, which has reached unprecedented levels since President Donald Trump was elected.
Although the Bitcoin market has seen a decline from its peak of over $100,000 per coin, Trump’s support for cryptocurrency in policy-making is driving innovation across government sectors. Tuberville emphasized that Trump’s executive actions should be permanently established in law.
“Just as President Trump has disrupted the status quo in Washington D.C., Bitcoin is transforming how Americans invest in their futures,” Sen. Tuberville stated.
“Establishing a Strategic Bitcoin Reserve is crucial to ensuring that the United States sustains its position as the world’s leading economy. We should leverage Bitcoin to reduce our national debt. I am honored to stand with my colleagues in endorsing this significant legislation, which will assist President Trump in ushering in America’s Golden Age.”
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Regarding the specifics of the legislation, it proposes the establishment of a decentralized network of secure Bitcoin vaults managed by the United States Department of the Treasury, with legal mandates ensuring the highest standards of physical and cybersecurity for the nation’s Bitcoin assets.
Additionally, it would launch a one-million-unit Bitcoin acquisition initiative over a defined timeframe, targeting a total purchase of approximately 5% of the overall Bitcoin supply, mirroring the proportion of gold held by the United States.
Perhaps most significantly, the bill would reinforce the core factors influencing the purchase of Bitcoin, affirming self-custody rights for individual holders while ensuring that the strategic Bitcoin reserve does not infringe on personal financial liberties.
The primary advocate for the bill is U.S. Senator Cynthia Lummis (R-WY). Tuberville and Lummis are joined by Senators Marsha Blackburn (R-TN), Jim Justice (R-WV), Roger Marshall (R-KS), and Bernie Moreno (R-OH) in presenting the proposal.
Michael Brauner is a Senior Sports Analyst and Contributing Writer for Yellowhammer News. You can follow him on Twitter @MBraunerWNSP and listen to him every weekday morning from 6 to 9 a.m. on “The Opening Kickoff” on WNSP-FM 105.5, available for free online.
