Senator Cynthia Lummis Advocates for Bitcoin Reserves and Proposes Bitcoin Act
Senator Cynthia Lummis has highlighted Bitcoin’s real-time auditability, emphasizing that its reserves can be verified 24/7 using a basic computer. She has introduced the Bitcoin Act, a legislative proposal aimed at establishing a U.S. Bitcoin reserve.
Representing Wyoming in the U.S. Senate, Lummis argues that Bitcoin’s transparency and decentralized nature offer enhanced fiscal accountability. She believes integrating Bitcoin into national reserves is a necessary step for modernizing the U.S. financial system.
Lummis stated:
“A Bitcoin reserve could be audited any time, 24/7, with a basic computer. It’s time to upgrade our reserves.”
As the newly appointed chair of the Senate Banking Subcommittee on Digital Assets, Lummis is actively promoting policies that encourage Bitcoin adoption in the U.S. economy. She has consistently pushed for clear regulations to provide a supportive framework for cryptocurrency integration.
Growing Global and State Interest in Bitcoin Reserves
According to Lummis, interest in Bitcoin reserves is not limited to the U.S. Countries like the United Arab Emirates are also exploring similar strategies.
Additionally, several U.S. states, including Pennsylvania, Texas, and Wisconsin, are considering establishing their own Bitcoin reserves. These states have historically been pioneers in financial innovation, potentially setting a precedent for federal-level adoption.
The Bitcoin Act: A Blueprint for National Adoption
Lummis has formally introduced the Bitcoin Act in the Senate, outlining a strategic plan for the U.S. government to acquire and hold Bitcoin in its national reserves. The proposed legislation suggests an acquisition goal of one million BTC, which represents 5% of Bitcoin’s total supply.
As part of her advocacy, Lummis will discuss Bitcoin’s role in national reserves at Bitcoin 2025, a major industry conference. She has also encouraged Bitcoin supporters to engage with lawmakers, emphasizing the impact of state-led initiatives in shaping national policies.
