Bitcoins
The legislation, which Lummis first proposed last year, seeks to codify President Trump’s recent executive order. The order establishes a Bitcoin reserve for the U.S. government.
This Bitcoin strategic reserve bill would direct the government to purchase 1 million bitcoins over five years. The funds would be stored in a “decentralized network” of storage facilities.
Lummis Bill Seeks to Fund Bitcoin Reserve with Federal Resources
The funds for these purchases would be drawn from diversifying existing resources in the Federal Reserve system. According to a press release, $6 billion in remittances from reserve banks would be allocated each year. From 2025 to 2029, build up the reserve. The plan also looks to tap into the Federal Reserve’s gold certificates to support the reserve’s growth.
Lummis believes Bitcoin is more than just a technological opportunity—it’s a national imperative for America’s financial future. “By transforming the president’s visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation,” she said. Lummis believes this will help tackle the national debt and maintain America’s competitive edge in the global economy.
Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h
— Senator Cynthia Lummis (@SenLummis) March 11, 2025
The bill is co-sponsored by several Republican senators, including Jim Justice (W.Va.), Tommy Tuberville (Ala.), Roger Marshall (Kan.), Marsha Blackburn (Tenn.), and Bernie Moreno (Ohio). While similar to Trump’s executive order, Lummis’s bill differs in key ways.
More About Bitcoin Strategy Reserves
In 2024, the number of public companies holding Bitcoin surged by an impressive 80%, reflecting a growing interest in cryptocurrency as a treasury asset, according to data presented by River. Since 2023, this number has increased by an even more remarkable 139%, although the overall adoption of Bitcoin as a treasury asset remains below 1% of all publicly traded firms.
The chart highlights a steady upward trend in the number of public companies with Bitcoin holdings from 2020 to 2025, with a significant acceleration in 2024. Notably, major indices such as the S&P 500 and NASDAQ 100 have limited representation, with only 2 and 3 companies holding Bitcoin, respectively, indicating that the trend is still emerging among the largest corporations.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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