By Nermeen Nabil Khear 
The legislation, which Lummis first proposed last year, seeks to codify President Trump’s recent executive order. The order establishes a Bitcoin reserve for the U.S. government.
This Bitcoin strategic reserve bill would direct the government to purchase 1 million bitcoins over five years. The funds would be stored in a “decentralized network” of storage facilities.
Lummis Bill Seeks to Fund Bitcoin Reserve with Federal Resources
The funds for these purchases would be drawn from diversifying existing resources in the Federal Reserve system. According to a press release, $6 billion in remittances from reserve banks would be allocated each year. From 2025 to 2029, build up the reserve. The plan also looks to tap into the Federal Reserve’s gold certificates to support the reserve’s growth.
Lummis believes Bitcoin is more than just a technological opportunity—it’s a national imperative for America’s financial future. “By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation,” she said. Lummis believes this will help tackle the national debt and maintain America’s competitive edge in the global economy.
Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h
— Senator Cynthia Lummis (@SenLummis) March 11, 2025
The bill is co-sponsored by several Republican senators, including Jim Justice (W.Va.), Tommy Tuberville (Ala.), Roger Marshall (Kan.), Marsha Blackburn (Tenn.), and Bernie Moreno (Ohio). While similar to Trump’s executive order, Lummis’s bill differs in key ways.
More About Bitcoin Strategy Reserves
The establishment of a US Stategic Bitcoin Reserve will lead to further growth in Bitcoin for Corporations @BitcoinForCorps. pic.twitter.com/NmBnx0TG6A
— Strategy (@Strategy) March 2, 2025
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The post Lummis Re-introduces Bill to Create Bitcoin Strategic Reserve appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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