Cynthia Lummis Restarts Bitcoin Bill to Promote the Establishment of a 1 Million BTC Strategic Reserve in the United States
Senator Cynthia Lummis has put
#比特币法案 back on the agenda! This time, she aims to promote the establishment of a strategic Bitcoin reserve in the United States and plans to purchase 1 million Bitcoins, which is 5% of the total Bitcoin supply.
Lummis also stated that this bill is intended to turn President Trump's vision of
#比特币战略储备 into law, laying a more solid foundation for the U.S. economy.
The bill was first introduced in July 2024, and after being shelved due to legislative deadlines, it is now back on the agenda with support from several Republican senators, including Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.
Lummis pointed out that Bitcoin is not only a technological opportunity but also a national priority for the U.S. to maintain its financial leadership in the 21st century. Jim Justice called it a "common-sense bill," Tommy Tuberville suggested using Bitcoin to pay off national debt, and Bernie Moreno believes that establishing a strategic Bitcoin reserve would improve the national balance sheet.
The core of the bill is to have the U.S. Treasury operate a secure Bitcoin vault network and purchase 200,000 Bitcoins annually over five years, totaling 1 million, with a plan to hold them for at least 20 years.
The bill also plans to raise funds by decentralizing the funding of the Federal Reserve and the Treasury, including reducing the Federal Reserve's discretionary surplus from $6.8 billion to $2.4 billion and reallocating $6 billion back to the Treasury over the next four years, while ensuring private Bitcoin ownership.
White House AI and crypto czar David Sacks tweeted on March 6 that President Trump has signed an executive order to establish a strategic reserve using Bitcoin seized by the government. This indicates that the process of Bitcoin becoming a national strategic reserve asset is accelerating.
Meanwhile, state-level Bitcoin strategic reserve legislation is also advancing. Currently, 19 states in the U.S. have Bitcoin strategic reserve legislation awaiting passage, 2 states' bills have entered the final approval stage, but 5 states have rejected proposals to allow the treasury to invest in Bitcoin.
As of now, Bitcoin's price is hovering around $82,600, facing critical pressure just below the 200-day simple moving average (around $83,450)!