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Senator Cynthia Lummis announced the reintroduction of the Bitcoin Strategic Reserve Act in the Senate, a move aimed at establishing a United States Strategic Bitcoin Reserve. The legislation is designed to convert a vision set forth by President Trump into a lasting statute, with the intention of bolstering the nation’s economic base for future generations.
Senator Lummis expressed confidence in Bitcoin as an essential element for America to maintain its financial leadership into the 21st century. She highlighted the cryptocurrency as not only a technological opportunity but also a critical imperative for America’s sustained economic prosperity. The senator emphasized the role of digital innovation in addressing national debt and preserving America’s competitive stance in the global economy.
The bill has garnered support from a group of co-sponsors, including Senators Marsha Blackburn, Bernie Moreno, Dr. Roger Marshall, Jim Justice, and Tommy Tuberville.
The original version of the bill, which was first proposed in July 2024, outlined a plan for the United States to purchase up to 200,000 Bitcoins annually over five years, summing up to an acquisition of 1,000,000 Bitcoins in total. However, details regarding whether the current bill will maintain the same acquisition targets have not been disclosed.
The reintroduction of the Bitcoin Strategic Reserve Act represents a significant step towards the institutional acceptance of cryptocurrency and reflects a proactive approach to leveraging digital currencies for strategic economic benefits. The Senate will now deliberate on the bill, considering its potential impact on the nation’s financial future.
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