encryption-friendly Senator Lummis introduces Bitcoin bill again: the Fed and the Treasury buy over a million BTC with

U.S. Senator Cynthia Lummis has reintroduced the "Bitcoin Act," urging the federal government to purchase over 1 million BTC and strengthen fiscal and economic competitiveness through strategic reserves. The bill is supported by several Republican senators and echoes the recent executive order signed by President Trump on "strategic BTC reserves," symbolizing a significant shift in U.S. Cryptocurrency policy.

Lummis reiterates Bitcoin bill

Republican Senator Cynthia Lummis recently reintroduced the "Optimal National Investment Promotion of Innovation, Technology, and Competitiveness Act (, also known as the BITCOIN Act," in the 119th Congress, aiming to establish strategic BTC reserves based on the United States and states.

The Bitcoin Act is back. pic.twitter.com/WNeU6SWPj3

— Senator Cynthia Lummis (@SenLummis) March 11, 2025

The bill was initially introduced in July 2024, stipulating that the US government will purchase 200,000 BTC annually within five years, ultimately reaching a holding of 1,000,000 BTC. The purchase funds will come from diversified allocations of internal funds from the Federal Reserve and the Treasury Department.

(Lummis BTC Reserve Act: Establishing State Storage Facilities, Fundraising from Fed Gold Revaluation)

New Bitcoin Act: Expand BTC holding limit, forked assets can be sold

However, the new version of the BITCOIN Act currently relaxes the ways in which the government can obtain BTC, not limited to direct purchase, but also through civil or criminal forfeiture, gifting, or even transfer from federal agencies. In addition, states in the United States can choose to deposit their BTC reserves into a strategic BTC reserve account, with the assets being held in a separate account:

The bill also includes the establishment of a decentralized 'BTC Secure Storage Network' operated by the US Treasury, and sets up a '1 million BTC Purchase Plan'.

Lummis hopes that the United States can accumulate about 5% of the total supply of Bitcoin in time, just like the gold reserves of the United States.

In addition, the new Bitcoin Act has established a formal evaluation process for BTC forks. The initial legislation stipulated that all BTC fork assets ( such as BCH and BTG) must be held in reserves and may not be sold or transferred without authorization within five years.

The new law empowers the Minister of Finance to evaluate and reserve the assets with the highest market value and market dominance after the compulsory holding period expires.

Lummis: Digital innovation contributes to the economic development of the United States

Lummis officially announced the bill at yesterday's BTC Policy Research Institute (The Bitcoin Policy Institute) meeting:

Proud to re-introduce the Bitcoin Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h

— Senator Cynthia Lummis (@SenLummis) March 11, 2025

By transforming the president's vision into lasting law, we can ensure that the United States fully leverages digital innovation to address national debt while maintaining our competitive edge in the global economy.

Several Republican senators have successively voiced their support.

The BITCOIN bill has garnered support from several Republican senators, including Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno. Senator Justice stated:

I am proud to work with Senator Lummis to promote this wise bill to establish a strategic BTC reserve and to formally legislate and perfect President Trump's executive order.

He further pointed out, "This bill demonstrates the continued leadership of the United States in financial innovation, strengthening not only our economic security, but also providing us with the opportunity to control the escalating national debt."

Bitcoin legislation echoes Trump executive orders

Just a few days ago, President Trump signed an executive order to establish a 'Strategic BTC Reserve' and a 'Digital Asset Repository.' These reserves will initially use Cryptocurrency seized by the government in criminal and civil cases, and expand the reserves in a 'budget-neutral' manner, while tokens in the digital asset repository may be sold.

(Detailed explanation of Trump's BTC executive order: The U.S. establishes a strategic BTC reserve, and the Treasury Department and the Department of Commerce are authorized to purchase BTC)

Now, Lummis's BITCOIN bill aligns with Trump's plan to legislate to ensure the long-term operation of the US BTC reserve system.

The reintroduction of the BITCOIN Act represents an important step for the United States in the digital asset space. With the increasing global attention on BTC, the bill may have a wide-ranging impact on the country's monetary policy and the Crypto Assets market.

This article is encryption-friendly, and Senator Lummis is pushing the BTC bill again: the Federal Reserve and the Treasury Department are buying over a million BTC. It first appeared on Chain News ABMedia.