Senator Lummis Reaffirms Proposal for Bitcoin as a U.S. National Reserve Asset Following Trump’s Victory

U.S. Treasury to Acquire 1 Million Bitcoin in Strategic Move to Slash National Debt and Cement the U.S. as a Financial Innovator

With Donald Trump newly elected as the 47th President of the United States, Senator Cynthia Lummis is doubling down on her plan to make Bitcoin a key asset in the national reserve. The senator's 2024 BITCOIN Act (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act) sets forth a five-year roadmap for the U.S. Treasury to acquire 1 million Bitcoin, securing them in Treasury-managed vaults as part of a new national reserve strategy.

This strategic reserve initiative, aimed at halving the national debt by 2045, aligns with long-term fiscal goals and positions the U.S. as a leader in financial innovation. The act, which has gained traction due to recent Republican majorities in both the Senate and House of Representatives, could become law as early as next year.

The impact on markets has been immediate: Bitcoin surged to an all-time high of $75,358 after the election results and Senator Lummis’s reaffirmation of the proposal.

Major industry voices are now rallying around the initiative, recognizing its potential for both the economy and national security. Notably, Samson Mow, a prominent figure in the crypto industry, warned of the “massive geopolitical ramifications” if Bitcoin surpasses $500,000, highlighting the urgency for the U.S. to acquire Bitcoin while prices remain under $100,000. Michael Saylor, co-founder of MicroStrategy, and Pierre Rochard, Riot Platforms VP of Research, have also backed the reserve initiative.

President-elect Trump’s own advocacy for making the U.S. a “Bitcoin superpower” signals a clear commitment to cryptocurrency as a national priority. This policy shift aligns with Trump’s campaign calls for establishing a national Bitcoin reserve to reinforce the U.S. dollar’s value and hedge against inflation.

Senator Lummis’s efforts to legislate Bitcoin as a reserve asset date back to July, when she first proposed the idea to shield the U.S. dollar from devaluation. Support for the initiative has grown steadily, gaining recent bipartisan momentum with backing from Representative Ro Khanna, who has emphasized Bitcoin’s strategic importance.

As Congress reconvenes, the BITCOIN Act and its ambitious goals are expected to dominate discussions on the national debt and the role of digital assets in the U.S. economy. If passed, this would mark a historic shift in the nation’s approach to financial assets and technological innovation, one that could shape global economic dynamics for decades to come.