A renewed effort to incorporate Bitcoin into the U.S. financial system is gaining traction as lawmakers seek to establish a strategic reserve. Senator Cynthia Lummis is leading a legislative push to accumulate 1 million BTC over five years, marking a significant shift in government asset management strategies.
According to the proposed legislation, $6 billion will be allocated annually from the Federal Reserve’s transfers between 2025 and 2029. These funds will be used to acquire Bitcoin, treating it as a long-term asset rather than a speculative investment.
The Bill also references the Fed’s gold certificates, positioning Bitcoin as a modern alternative in the nation’s reserve strategy.
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Growing Political and Corporate Support for Bitcoin
The proposal has gained backing from prominent Republican lawmakers, including Senators Jim Justice, Tommy Tuberville, and Roger Marshall. Their support aligns with President Donald Trump’s recent executive order advocating for a national Bitcoin reserve.
The Trump administration stresses accountable federal government control of digital properties through its current strategy. The Bitcoin acquisition procedure requires no new costs for public tax funds.
The crypto advisor for President Trump explains that confiscated assets will serve as the primary source of financing for the acquisition process while taxpayers remain protected from funding requirements.
Senator Lummis focuses on digital asset regulation because she uses her Senate Banking Subcommittee on Digital Assets chair position to push this legislative effort forward.
The government official proposes that the national reserve stockpiling of Bitcoin represents a vital move to preserve America’s global economic authority.
The Bill demonstrates how Bitcoin maintains its crucial position in worldwide economic developments. Many proponents believe Bitcoin possession would improve America’s financial adaptability to economic transformations.
Stakeholders view Bitcoin as a potential inflation defense tool that resembles traditional gold stores in national reserves.
While the proposal faces opposition from some lawmakers concerned about Bitcoin’s volatility, its growing support signals a shift in how digital assets are viewed in national financial planning. This legislation would mark a significant step in integrating Bitcoin into U.S. financial policy if passed.
Conclusion
As discussions on Bitcoin’s role in national reserves continue, the proposed legislation represents a significant move toward incorporating digital assets into the U.S. financial system. With strong backing from key political figures and a structured acquisition plan, the initiative could set a precedent for other nations exploring similar strategies.
At the time of writing Bitcoin was exchanging hands at $83,412.90 which is an increase of 2.98% within 24 hours as per coinMarketCap data.
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