cyrpto bill, Bitcoin, claims, Lummis, reserve, Senator, strategic, supports, Trump Mark May 2, 2025 0 Comments

Senator Lummis claims Trump supports 1M Bitcoin strategic reserve bill

Senator Lummis said Donald Trump supports his Bitcoin Act, which would force the government to accumulate 1 million bitcoins.

Bitcoin Strategic Reserve could soon become a reality. During a speech on Friday May 2 in the American Senate, senator Cynthia Lummis said that US President Donald Trump supported her Bitcoin Act.

Bitcoin Act is the only solution to the 36 T $ in our country. I am grateful for a avant-garde president who not only recognizes it, but acts on it. pic.twitter.com/nvwh6v2ech

– Senator Cynthia Lummis (@Enlummis) May 2, 2025

I am particularly satisfied with President Trump’s support on my Bitcoin Reserve strategic initiative, which will address our national debt, while obtaining the position of America as a world leader in financial innovation, “said senator Cynthia Lummis.

Bitcoin puts American workers first: Lummis

In the same speech, Lummis defended Bitcoin’s security while expressing his opinion that a Bitcoin reserve would benefit ordinary Americans. In particular, Lummis said that Bitcoin puts “everyday worker and everyday worker around the world on their own money”.

While Bitcoin is more useful, its use makes the whole system safer, more robust and more capable of meeting our needs all over the world. We must be the world leader ”, Lummis.

The law, which Lummis proposed in the Senate, forces the United States government to acquire 1 million bitcoins (BTC) More than five years. This acquisition would make the US government the largest Bitcoin holder, who has a capped supply of 21 million.

Currently, the United States government has around 198,000 BTC, mainly asset assets, with a combined value of $ 19 billion. At current prices, the United States should invest around $ 76 billion in BTC to reach the lens of 1 million BTC. However, it is unlikely that prices remain stable, because the markets would probably see this decision as a major bullish signal.

The relatively non -liquid bitcoin offer, compared to traditional assets, means that the price of bitcoin would probably increase significantly once the acquisition is acquired. The United States should also compete with Bitcoin giants such as Strategy, which has announced its intention to Invest $ 84 million in BTC.