Senator Cynthia Lummis has reaffirmed her commitment to advancing legislation that would establish a strategic Bitcoin reserve in the United States. Speaking in Washington, D.C., she discussed the progress of the proposed Bitcoin reserve bill, which aims to strengthen the country’s financial system by integrating Bitcoin into national and state-level reserves.
The bill proposes that the U.S. government gradually acquire 1 million Bitcoin over five years and hold it for at least 20 years. Lummis emphasized that this initiative would not require raising taxes but would use existing financial assets within the Federal Reserve and the Treasury.
Cynthia Lummis Plan To Pass Bitcoin Reserve Bill
In a recent interview, Senator Cynthia Lummis has revealed she has been working to secure bipartisan support for the strategic Bitcoin reserve proposal in the Senate. The legislation requires 60 votes to pass, which means both Republicans and Democrats must back the initiative. Lummis stated that conversations with lawmakers have been positive, but more work is needed to ensure the bill moves forward.
“We are working right now to identify a bipartisan coalition to get it passed,” Cynthia Lummis said.
She also noted that several members of Congress are showing interest in digital asset policies, particularly those concerned about the long-term stability of the U.S. dollar. The bill’s supporters argue that a strategic Bitcoin reserve could help protect the U.S. economy from inflation and strengthen the country’s position as a global financial leader.
“Bitcoin is not just a speculative investment—it is a store of value that can provide long-term financial security for the U.S.,” she said.
The concept of a strategic Bitcoin reserve is gaining attention beyond the U.S. Crypto leaders, including Binance founder Changpeng Zhao (CZ), have called on the European Union to consider Bitcoin as part of its reserves.
State-Level Initiatives and Growing Support
While the federal government is still debating the strategic Bitcoin reserve, several U.S. states have introduced similar proposals. Dennis Porter, CEO of Satoshi Action Fund, confirmed that 15 states, including Utah, Ohio, Montana and Florida, have introduced legislation to create state-level Bitcoin reserves.
Lummis, who previously served as Wyoming’s state treasurer, believes states will likely implement these measures before the federal government. “States are the innovators of the country,” she said. She explained that states without unlimited budgets or the ability to print money need assets like Bitcoin to protect their financial stability.
In Utah, a strategic Bitcoin reserve bill recently passed a digital asset task force vote. Porter expressed confidence that Utah could be the first state to officially approve such legislation due to its short 45-day legislative calendar and strong political support.
The Trump Administration’s Role in Bitcoin Policy
Senator Cynthia Lummis confirmed that the Trump administration is actively engaging in discussions regarding Bitcoin and digital assets. US President Donald Trump has recently expressed support for a strategic Bitcoin reserve, aligning with Lummis’ efforts to integrate Bitcoin into national financial policy.
“We are working very closely with the administration,” Lummis stated. She pointed out that several of Trump’s appointees, including his nominee for Treasury Secretary and the SEC’s lead on digital assets, have shown a favorable stance toward Bitcoin. She also mentioned that Robert F. Kennedy Jr., who is expected to be confirmed as Health and Human Services Secretary, has supported a Bitcoin reserve on a larger scale than what Lummis proposed.
The senator criticized the previous administration’s approach to digital assets, citing reports of federal agencies limiting access to banking services for crypto businesses. She also referenced whistleblower reports that documents related to these restrictions were allegedly destroyed at the FDIC. Lummis stated that she is working to ensure such actions do not happen again and that Bitcoin businesses are treated fairly.
With support from multiple states and a growing number of lawmakers, Cynthia Lummis remains optimistic about the bill’s future. She emphasized that establishing a Bitcoin reserve is essential for strengthening the U.S. dollar and ensuring financial stability.
“This is a necessary step to secure our economic future, and I am fully committed to making it happen,” she concluded.
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