Cynthia Lummis, U.S. Senator for Wyoming | https://www.lummis.senate.gov/senwestcaucus-thechairs/
Cynthia Lummis, U.S. Senator for Wyoming | https://www.lummis.senate.gov/senwestcaucus-thechairs/
U.S. Senator Cynthia Lummis, Chair of the Senate Banking Subcommittee on Digital Assets, has introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the U.S. Senate. The legislation aims to establish a United States Strategic Bitcoin Reserve, building upon former President Trump's executive action.
Senator Lummis stated, “Today, I am proud to reintroduce landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation’s economic foundation for generations to come.” She emphasized the importance of Bitcoin as a national imperative for maintaining America's financial leadership.
Joining her efforts is Senator Jim Justice who remarked, “I’m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump’s executive order.” He acknowledged his learning curve with cryptocurrencies but supported the initiative from a business perspective.
Senator Tommy Tuberville also expressed support: “Like President Trump, Bitcoin has shaken up the status quo in Washington D.C. and is completely revolutionizing the way Americans invest in their futures.” He highlighted the potential role of Bitcoin in addressing national debt concerns.
Senator Bernie Moreno addressed fiscal challenges: “Decades of out-of-control spending has led to a $36 trillion national debt, and developing a Strategic Bitcoin Reserve is a critical step to improving our nation’s balance sheet.”
The evolving global economic landscape was noted by Senator Roger Marshall: “With the BITCOIN Act, we have a chance to diversify, strengthen, and decentralize the critically important assets that back our currency.”
Rep. Nick Begich introduced companion legislation in the House of Representatives. He praised Senator Lummis's efforts saying, “The BITCOIN Act ensures that America remains at the forefront of innovation while strengthening our national economic security.”
The BITCOIN Act proposes creating a strategic reserve for Bitcoin as an additional store of value aimed at bolstering America's balance sheet and ensuring transparent management of federal government-held Bitcoins.
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