Everything You Need to Know About Senator Lummis’ $80 Billion Bitcoin Act Proposal

• Sen. Cynthia Lummis reintroduced a bill to establish a national Bitcoin reserve, codifying Trump’s executive order into law.
• The bill proposes acquiring 1 million BTC over five years using Federal Reserve remittances and gold certificates.
• Industry reactions are mixed, with some praising the initiative while others question whether only Bitcoin should be included.

Sen. Cynthia Lummis (R-Wyo.) has reintroduced legislation to create a national Bitcoin reserve, aiming to codify President Trump’s recent executive order into law.

What’s in the Bill?

Lummis’ proposal, first introduced last year, would require the government to purchase 1 million Bitcoin over the next five years. These holdings would be stored in a “decentralized network” of secure storage facilities.

“Bitcoin is not simply a technological opportunity, but a national imperative for America’s financial leadership in the 21st century,” Lummis stated.

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How Would the Government Fund Bitcoin Purchases?

The bill outlines a budget-neutral approach, directing funds from:

• $6 billion in annual remittances from the Federal Reserve (2025-2029)
• Gold certificates issued by the Federal Reserve

Lummis argues this would strengthen the U.S. economy while addressing national debt concerns.

How Is This Different from Trump’s Plan?

While Trump’s executive order focuses on Bitcoin seized by law enforcement, Lummis’ bill proposes actively acquiring BTC through government reserves.

Trump’s approach also includes:

• A Bitcoin Strategic Reserve for BTC holdings
• A Digital Asset Stockpile for non-Bitcoin assets forfeited in criminal or civil cases

David Sacks, Trump’s crypto and AI czar, emphasized that the plan would “not cost taxpayers a dime.”

“The government will not acquire additional assets beyond those obtained through forfeiture,” Sacks wrote on X.

However, Trump’s order also directs Treasury and Commerce departments to explore budget-neutral strategies for acquiring additional BTC.

Industry Reactions

The move has drawn mixed reactions from the crypto community. While many celebrated the establishment of a Bitcoin reserve, others questioned whether only BTC should be included, raising concerns about the inclusion of other digital assets in a separate stockpile.

With Lummis’ bill now back in Congress, the push to solidify Bitcoin’s role in U.S. financial policy is gaining momentum. Whether this initiative will gain bipartisan support or face regulatory roadblocks remains to be seen.