Senator Cynthia Lummis reintroduced legislation that would authorize the US government to acquire up to 1 million Bitcoin (BTC), formalizing President Donald Trump’s recent executive order establishing a federal Bitcoin reserve.
The BITCOIN Act aims to integrate digital assets into US financial strategy, requiring the Treasury Department to manage the acquisition and secure storage of Bitcoin. Lummis positioned the bill as a forward-looking measure for economic stability and innovation.
She said in a statement.
“By codifying this effort into law, we can ensure that our nation leverages digital assets to strengthen our financial future while maintaining its global leadership.”
The bill has five Republican Senators cosponsors: Jim Justice (R-WV), Tommy Tuberville (R-AL), Roger Marshall (R-KS), Marsha Blackburn (R-TN), and Bernie Moreno (R-OH).
Meanwhile, Congressman Nick Begich has introduced a companion bill in the House.
If enacted, the bill would require the federal government to purchase up to one million BTC — currently valued at around $80 billion — over five years.
The initiative would be partially funded by the Federal Reserve’s net earnings and adjustments to Treasury certificates based on the Fed’s gold holdings, with updated valuations covering the costs.
The proposal also mandates the establishment of a decentralized network of secure Bitcoin storage facilities across the US. All Bitcoin acquired would be held for at least 20 years, with restrictions preventing any Treasury Secretary from selling more than 10% of the reserve in a two-year span.
Lummis’ bill differs from the White House’s stance on Bitcoin reserves. While Trump’s executive order established a strategic reserve, senior officials have indicated a preference for indefinite holding rather than scheduled acquisitions.
The administration has also emphasized the importance of budget-neutral approaches, while Lummis’ proposal outlines a broader purchasing framework.
The introduction of this legislation follows increased political backing for crypto initiatives. Notably, pro-crypto advocacy groups played a key role in the electoral defeat of Senator Sherrod Brown, an outspoken critic of the industry. These developments could shape the bill’s legislative trajectory, though its passage remains uncertain.
If passed, the BITCOIN Act would mark a significant shift in US monetary policy, positioning Bitcoin as a formal reserve asset and reinforcing the country’s role in the digital asset economy.
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