US Senator's Bill for Bitcoin Reserve: Includes Buying 1 Million BTC! - Coin Bulletin

U.S. Senator Cynthia Lummis has reintroduced the bill proposed by President Donald Trump to create a strategic Bitcoin reserve.

Republican Senator Cynthia Lummis, known as one of the leading supporters of the cryptocurrency world, reintroduced the strategic Bitcoin (BTC) reserve law she first proposed in July, with some minor changes. The proposal, named the BITCOIN Act (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act), envisions the creation of a Bitcoin reserve to strengthen the U.S. balance sheet.

This move comes after President Trump's **recently signed presidential decree aiming to establish strategic Bitcoin reserves and digital asset stocks for the country. Senator Lummis emphasized the importance of transforming the said presidential order into a permanent law, stating, "By fully leveraging the power of digital innovation in our country, we can both reduce our national debt and maintain our competitive position in the global economy."

The size of the reserve is remarkable

Under the proposal, a decentralized network consisting of secure Bitcoin vaults is planned to be established under the management of the US Treasury Department. In addition, the bill includes the purchase of approximately 1 million BTC, equivalent to about 5% of the total Bitcoin supply. This ratio is defined as equivalent in size and scope to the US gold reserves.

For financing the reserve, it is aimed to diversify the existing funds in the hands of the Federal Reserve(FED) and the US Treasury Department. Among the names supporting the bill are Republican senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno. In addition, Republican Representative Nick Begich also introduced the corresponding version of the bill to the US House of Representatives.