Senator Lummis updates on Bitcoin Act progress at Bitcoin 2025.
President Trump supports the bill for a strategic Bitcoin reserve.
Senate Banking Committee passes bill; floor vote pending.
U.S. aims to acquire 1 million Bitcoins, like gold reserves.
Move critical for U.S. leadership in financial innovation.
#SenatorLummis #BitcoinAct #StrategicReserve #Bitcoin2025 #CryptoLegislation
At the Bitcoin 2025 conference on May 27, 2025, Senator Cynthia Lummis provided an update on the Bitcoin Act. She highlighted its progress toward establishing a strategic Bitcoin reserve for the U.S.
Lummis stated that President Trump supports the Bitcoin Act. A team in the White House is working on digital asset issues, including stablecoins, market structure, and the Bitcoin strategic reserve. She emphasized the bill’s importance for America’s financial future.
The Senate Banking Committee has passed the bill. It is close to being ready for a floor vote upon returning from a break. Lummis noted the extensive work with the Minority Party to satisfy their concerns.
She underscored the strategic necessity of the U.S. leading in this area. Other countries are moving toward establishing their own Bitcoin reserves. The Bitcoin Act aims to acquire approximately 1 million Bitcoins, mirroring the size and scope of U.S. gold reserves.
This move is intended to bolster America’s balance sheet and ensure its position as a global leader in financial innovation. Lummis described it as a pivotal moment for the U.S. economy.