U.S. Senator Cynthia Lummis Proposes Bill to Create National Bitcoin Reserve

U.S. Senator Cynthia Lummis has introduced a bill that aims to establish a national strategic reserve of Bitcoin. The proposal suggests selling part of the U.S. Federal Reserve’s gold reserves instead of using the government’s budget to purchase Bitcoin.

Lummis, a Republican senator, is pushing to implement a major plan previously proposed by elected President Donald Trump, with the goal of turning the concept of a national Bitcoin reserve into a reality. In an interview with Bloomberg, Lummis stated that selling a portion of the Federal Reserve’s gold could serve as a means to fund the purchase of Bitcoin, which she sees as a long-term financial asset.

The bill outlines that Bitcoin should be held as a strategic asset for at least 20 years, which Lummis believes could help reduce the U.S. national debt, currently estimated at $36 trillion. As Bitcoin’s value continues to rise, it is expected to contribute positively to this financial goal.

This proposal aligns with President Trump’s earlier promises to the cryptocurrency community that the U.S. would create a national Bitcoin reserve and become the global hub for cryptocurrencies.

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