In 2025, the global financial sector is focusing on a grand Bitcoin conference held in Las Vegas. This conference is an annual event for the cryptocurrency industry, bringing together many global financial professionals, industry experts, and elites from all walks of life who are concerned about the development of cryptocurrency.
During the conference, a piece of heavy news instantly attracted the attention of the whole audience. U.S. Senator Cynthia Lummis solemnly announced on stage that U.S. President Trump expressed firm support for her proposed (Strategic Bitcoin Reserve Act). This statement was like a boulder thrown into a calm lake, stirring up a thousand waves in the financial world. The core content of the bill is very eye-catching. It clearly authorizes the U.S. government to gradually purchase 1 million bitcoins in the next five years. Once implemented, this measure will have a profound impact on the financial landscape of the United States and even the world.
On that day, Cynthia Lummis was not standing alone on the podium. She was accompanied by Marsha Blackburn, a senator from Tennessee, and Jim Justice, a senator from West Virginia. The joint speech of the three undoubtedly added more weight and credibility to the news. Cynthia Lummis further revealed that President Trump personally set up a team in the White House that focuses on digital assets. The members of this team are all professionals with profound attainments and rich experience in the field of digital assets. Their tasks cover many key aspects, from volatility analysis of the stablecoin market, to in-depth research on the entire digital asset market structure, to the formulation of strategic Bitcoin reserve planning, etc., striving to fully and deeply control the development dynamics of the digital asset field.
In fact, this bill, called the BITCOIN Act, was proposed by Cynthia Lummis as early as July 2024. However, due to various reasons, the bill was not passed at that time. But Cynthia Lummis did not give up. She and her team members carefully sorted out and improved the bill, and updated some of its key clauses and implementation details. Today, the brand new bill has been resubmitted and has once again entered the public eye, triggering widespread discussion and attention.
In her speech, Cynthia Lummis firmly emphasized: "President Trump has given strong support to this bill." She then added, "The White House team he formed has invested tremendous energy in digital asset research, from the issuance and regulation of stablecoins, to the optimization and adjustment of market structure, to the layout of strategic Bitcoin reserves, every link has been deeply discussed and planned." Her words revealed her confidence and expectations for the future implementation of the bill.
In her speech, Cynthia Lummis also pointed out that not only the federal government has begun to pay attention to Bitcoin, but the interest in Bitcoin at the state level has also shown a rapid growth trend. She gave an example: "Arizona, Texas and New Hampshire have successfully passed the Strategic Bitcoin Reserve Act this year." The positive actions of these states have undoubtedly injected new vitality into the development of Bitcoin in the United States and provided a model for other states to learn from.
She also looked at the international market, mentioning the active participation of other countries in the field of Bitcoin. "Currently, 30 states are seriously considering establishing strategic Bitcoin reserves. The UAE's move to purchase Bitcoin through US exchange-traded funds is a positive signal for the United States. This not only means that the attractiveness of the US Bitcoin market has been recognized internationally, but also indicates that the United States may usher in more international cooperation and competition in the field of Bitcoin in the future." Her analysis gave the audience a clearer understanding of the development trend of the global Bitcoin market.
Senator Marsha Blackburn highly agrees and supports Cynthia Lummis's views. From a global strategic perspective, she believes that the United States' leadership in the field of Bitcoin is likely to trigger a new trend around the world. She confidently said: "Many of our allies have been paying attention to the United States' financial dynamics, and Bitcoin is no exception. They will follow our practices closely. After all, everyone is eager to participate in the huge market and prosperous trade in the United States, and they will inevitably follow our actions." At the same time, she also reminded that some countries have taken the lead and started to build their own Bitcoin reserves. The United States must speed up its pace to stay ahead in this global Bitcoin competition.
Senator Jim Justice expressed his views from the perspective of Bitcoin popularization. He believes that once ordinary people begin to widely use Bitcoin for daily purchases, the popularity of Bitcoin will grow exponentially. He vividly described: "We must consolidate the economic foundation. When ordinary people begin to use Bitcoin to buy daily necessities such as food and daily necessities, the speed of relevant legislation will be beyond imagination. Because this means that Bitcoin has truly integrated into people's lives and become an indispensable part of economic activities, the government will inevitably speed up the legislative process to regulate and guide this emerging economic phenomenon."
Looking back at recent actions by U.S. states in Bitcoin reserves, Texas legislators passed Senate Bill 21 on May 21, which aims to establish a state-level Bitcoin reserve. Currently, the bill has been submitted to Governor Greg Abbott, who will make a decision within ten days. He can choose to sign the bill to make it formally effective, or he can choose not to sign it, in which case the bill will automatically take effect after the specified time. The passage of this bill marks an important step for Texas in the construction of Bitcoin reserves. Other states such as North Carolina have also been inspired to follow Texas's example and actively explore the establishment of their own Bitcoin reserve system. In addition, New Hampshire approved its Bitcoin Reserve Act as early as May 7, becoming the first state in the United States to sign the bill into law, setting an example for other states, and its successful experience also provides valuable reference for subsequent actions by states.
