3 months ago
US Senator Cynthia Lummis’ recently reintroduced BITCOIN Act volition let the authorities to perchance clasp much than 1 cardinal Bitcoin arsenic portion of its recently established reserve.
The bill, first introduced successful July, directs the US government to buy 200,000 Bitcoin (BTC) a twelvemonth implicit 5 years for a full acquisition of 1 cardinal Bitcoin, which would beryllium paid for by diversifying existing funds wrong the Federal Reserve strategy and the Treasury department.
However, the reintroduced act, the Boosting Innovation, Technology, and Competitiveness done Optimized Investment Nationwide (BITCOIN) Act of 2025, opens the doorway for the US to get and clasp successful excess of 1 cardinal BTC arsenic agelong arsenic it is acquired done lawful means different than nonstop purchase, specified arsenic civilian oregon transgression forfeitures, gifts made to the US oregon transfers from national agencies.
Proud to re-introduce the BITCOIN Act. Let’s unafraid America’s fiscal future.pic.twitter.com/jJFmMopP7h
— Senator Cynthia Lummis (@SenLummis) March 11, 2025The other Bitcoin tin besides travel from US states that voluntarily store their Bitcoin holdings successful the strategical Bitcoin reserve, though it’ll beryllium stored successful a segregated account.
“By transforming the president’s visionary enforcement enactment into enduring law, we tin guarantee that our federation volition harness the afloat imaginable of integer innovation to code our nationalist indebtedness portion maintaining our competitory borderline successful the planetary economy,” said Lummis, who announced the revamped measure during a March 11 league hosted by The Bitcoin Policy Institute.
Lummis taps caller measure co-sponsors
The BITCOIN Act besides has a fig of caller co-sponsors, including Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn and Bernie Moreno.
“I’m arrogant to articulation Senator Lummis connected this common-sense measure to make a strategical Bitcoin reserve and codify President Trump’s enforcement order,” Justice said successful a statement.
“This measure represents America’s continued enactment successful fiscal innovation, bolsters some our economical security, and gives america an accidental to wrangle successful our soaring nationalist debt,” helium added.
Other changes
The measure besides present sets a ceremonial valuation process for Bitcoin forked assets and airdropped assets successful the reserve.
Initially, the measure required each forked assets to beryllium stored successful the reserve and couldn’t beryllium sold oregon disposed of for 5 years unless authorized by law.
Related: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded
The caller measure present directs the Secretary aft the mandatory holding play to measure and clasp the astir invaluable plus based connected marketplace capitalization portion retaining the “dominant asset.”
Bitcoin has hard forked a fig of times successful the past to make caller cryptocurrencies, astir notably Bitcoin Cash (BCH), which forked connected Aug. 1, 2017, and Bitcoin Gold (BTG), which forked connected Oct. 24, 2017.
Lummis’ reintroduced measure comes conscionable days aft US President Donald Trump signed an enforcement order to make a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”
The reserve and stockpile volition initially usage cryptocurrency forfeited successful authorities transgression and civilian cases, but the reserve won’t merchantability the stashed Bitcoin and volition usage “budget-neutral” ways to summation its size, portion tokens from the stockpile could beryllium sold.
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