#TradingAnalysis101

Senator Lummis Reintroduces Bitcoin Act for One Million $BTC Purchase

The bill requires the Treasury to acquire one million Bitcoins in five years and retain them for 20 years to secure assets.

The legislation establishes a Strategic Bitcoin Reserve by transferring existing Bitcoin holdings and creating a secure, decentralized network throughout the United States.

Federal Reserve adjustments support the purchase program by allocating remittances for Bitcoin acquisitions from 2025 to 2029, ensuring funding for the initiative.

Senator Lummis has reintroduced the Bitcoin Act, a legislative proposal requiring the U.S. government to purchase one million Bitcoins over five years. The bill mandates a minimum 20-year holding period and sets procedures for digital asset storage.

Bill Overview and Treasury Responsibilities

Under the bill, the Treasury must purchase one million Bitcoins in five years. The Treasury will hold these Bitcoins in trust for the United States. All acquired Bitcoins must be held for at least 20 years. The law requires holding unless used to reduce outstanding federal debt.

Legislation specifies a timeline for Bitcoin acquisitions. The Treasury must complete purchases within five years. The legislative text specifies requirements for audit and reporting. The Treasury will provide periodic updates on Bitcoin acquisition progress.