The newly reintroduced BITCOIN Act by US Senator Cynthia Lummis will enable the government to hold up to 1,000,000 Bitcoins as part of a newly created reserve.
This bill is a crime first introduced In July, the US government to buy Bitcoin – 200,000 BitcoinsBTC( ) per year for five years, for the total purchase of one million Bitcoins. This would be funded by the Federal Reserve System and Treasury Department diversifying their existing funds.
However, it is important to note that the reintroduced The Boosting Innovation, Technology, and Competition through Optimized Investment Nationwide Act (BITCOIN Act) of 2025 allows the US government to hold and acquire more than 1 million BTC, as long as they are acquired by lawful methods other than direct purchases, like civil and criminal forfeitures, gifting to the US, or transfer from federal agencies.
We are proud to reintroduce The BITCOIN Bill. We must secure America’s economic future.pic.twitter.com/jJFmMopP7h
— Senator Cynthia Lummis (@SenLummis) March 11, 2025
Extra Bitcoin can be obtained from US states who store Bitcoins on their own volitionally in the strategic Bitcoin reserves, although they’re stored in segregated accounts.
“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 to address our national debt while maintaining our competitive edge in the global economy,” Lummis said, who revealed the revised bill at a Bitcoin Policy Institute conference on 11 March.
Lummis adds co-sponsors to new bills
The BITCOIN Bill also includes a few new sponsors, such as Republican Senators Jim Justice (R-TX), Tommy Tuberville (R-MN), Roger Marshall, Marsha blackburn and Bernie Moreno.
“I’m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump’s executive order,” Justice said In a statement.
“This bill represents America’s continued leadership in financial innovation, bolsters both our economic security, and gives us an opportunity to wrangle in our soaring national debt,” He added.
Changes to the original text
Bill also establishes a formal assessment process for assets airdropped in reserve and assets forked with Bitcoin.
The bill initially required that all assets forked be placed in a reserve, and could not be sold for five years without a law authorizing it.
Related: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded
After the holding period, the new bill directs that the Secretary retains and evaluates the asset with the highest market value after the mandatory retention period. “dominant asset.”
Bitcoin Cash is the most recent example of a hard fork.BCHBitcoin Gold, which was forked in August 2017 and Bitcoin (BTGThe resulting ) was affixed on October 24, 2017.
Lummis introduced a bill just a few days after US President Donald Trump signed an executive order To create a “Strategic Bitcoin Reserve” The a “Digital Asset Stockpile.”
Reserve and Stockpile initially will be using cryptocurrency forfeited by government in criminal and civil proceedings, however the reserve will not sell any stashed Bitcoin. “budget-neutral” There are ways to expand the size of your stockpile, and tokens can be sold.
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Source: cointelegraph.com
