Senator Lummis to Introduce Bill for U.S. to Buy 1 Million Bitcoin, Backed by Trump

U.S. Senator Cynthia Lummis has announced plans to introduce a bill aimed at establishing a Strategic Bitcoin Reserve for the United States, with the intention of purchasing 1 million Bitcoin. The proposed legislation is set to be presented on the Senate floor next week, following the completion of discussions on a stablecoin bill.

Senator Lummis emphasized the geopolitical advantages of holding a significant portion of the world’s Bitcoin, suggesting that the U.S. should aim to reserve at least 5% of the global supply, mirroring its current gold reserve strategy. She highlighted that other countries are already establishing their own Bitcoin reserves, underscoring the need for the U.S. to maintain its global influence. Lummis also noted that 30 states are considering similar strategic reserves.

President Donald Trump has expressed support for the bill, known as the Bitcoin Act, according to statements made by Senator Lummis at the Bitcoin 2025 Conference. This endorsement from the President could play a crucial role in the bill’s passage through Congress.

The initiative has garnered support from various sectors, including the U.S. military, with Lummis noting that several generals view a Strategic Bitcoin Reserve as a means to enhance the country’s economic power. Additionally, Lummis argued that Bitcoin could aid in transitioning the U.S. to more efficient energy consumption and pave the way for advancements in artificial intelligence, describing it as ‘digital gold’.

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