Washington, D.C. – Senator Cynthia Lummis (R-WY) has reintroduced legislation aimed at establishing a U.S. Strategic Bitcoin Reserve, a move strongly supported by President Donald Trump. The bill proposes the U.S. government purchase 1 million Bitcoin, signaling a significant shift in the nation's financial strategy and its approach to digital assets.
The "Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act," first introduced in July 2024 and reintroduced in March 2025, seeks to acquire 1 million Bitcoin over a five-year period. This ambitious plan aims to bolster the U.S. dollar, hedge against inflation, and contribute to paying down the national debt, positioning Bitcoin as a strategic national asset akin to gold reserves. Funding for the acquisition is proposed through reallocating Federal Reserve remittances and reissuing gold certificates to reflect current market values.
President Trump has publicly embraced the concept of a strategic Bitcoin reserve, marking a notable evolution from his previous skepticism towards cryptocurrencies. In March 2025, he signed an Executive Order establishing both a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. While his initial order focuses on utilizing forfeited crypto assets with a "no-sell" policy, his administration has expressed a broader vision for the U.S. to become the "crypto capital of the world."
Senator Lummis, a vocal proponent of digital assets, stated in the tweet provided by Cointelegraph, "> Senator Cynthia Lummis says President Trump supports her crypto reserve bill, which proposes the U.S. purchase of 1 million $BTC." She has emphasized that the reserve would not infringe upon individual self-custody rights for Bitcoin holders. The bill has garnered support from several Republican senators, including Jim Justice and Tommy Tuberville, who see it as a means to strengthen the nation's economic foundation.
The proposal has sparked debate regarding Bitcoin's volatility as a reserve asset and its potential to trigger a "crypto arms race" among nations. However, supporters argue that a strategic Bitcoin reserve could provide a new layer of financial security and leadership in the rapidly evolving global digital economy. The reintroduction of the BITCOIN Act, coupled with presidential backing, indicates a growing bipartisan interest in integrating digital assets into national economic policy.