Senator Cynthia Lummis has introduced a bill to establish strategic Bitcoin reserves in the United States. According to the plan, the US government will gradually purchase one million Bitcoins over five years and hold them for at least 20 years. Lummis emphasizes that this program does not require tax increases and the necessary resources will be sourced from assets in the Federal Reserve and the Treasury Department. In a recent interview, Lummis stated that she is working to garner senators’ support for the bill’s approval. The bill requires 60 votes for approval and must have support from both Republican and Democratic parties. Lummis has mentioned the positive interactions with lawmakers but acknowledges that more efforts are needed to advance the bill. She also noted that many members of Congress are focusing on digital assets and related policies due to doubts about the future stability of the US dollar. While the federal government has not made a decision yet, several states including Utah, Ohio, and Florida are drafting laws for Bitcoin storage. Lummis believes these states will be pioneers as they need assets like Bitcoin to ensure their financial stability. Lummis also announced her collaboration with the Trump administration in approving Bitcoin storage and mentioned that some members of the previous administration also have a positive attitude towards Bitcoin. She criticized the previous government’s restrictive policies on digital assets and emphasized the need to fight for justice in this area. Expressing optimism about the future of this bill, Lummis stressed that establishing Bitcoin reserves is essential for strengthening the US dollar and ensuring financial stability.
