Source: Cointelegraph.com NewsUS Senator Cynthia Lummis\u2019 newly reintroduced BITCOIN Act will allow the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.
\nThe bill, first introduced in July, directs the US government to buy 200,000 Bitcoin (BTC) a year over five years for a total acquisition of 1 million Bitcoin, which would be paid for by diversifying existing funds within the Federal Reserve system and the Treasury department.\u00a0
\nHowever, the reintroduced act, the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2025, opens the door for the US to acquire and hold in excess of 1 million BTC as long as it is acquired through lawful means other than direct purchase, such as civil or criminal forfeitures, gifts made to the US or transfers from federal agencies.<\/p>\n
Proud to re-introduce the BITCOIN Act. Let\u2019s secure America\u2019s financial future.pic.twitter.com\/jJFmMopP7h\u2014 Senator Cynthia Lummis (@SenLummis) March 11, 2025<\/p>\n
The extra Bitcoin can also come from US states that voluntarily store their Bitcoin holdings in the strategic Bitcoin reserve, though it\u2019ll be stored in a segregated account.\u00a0 Source: Cointelegraph.com NewsUS Senator Cynthia Lummis\u2019 newly reintroduced BITCOIN Act will allow the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve. The… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124876"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124876"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124876\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124876"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cBy transforming the president\u2019s 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,\u201d said Lummis, who announced the revamped bill during a March 11 conference hosted by The Bitcoin Policy Institute.\u00a0
\nLummis taps new bill co-sponsors
\nThe BITCOIN Act also has a number of new co-sponsors, including Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn and Bernie Moreno.\u00a0
\n\u201cI\u2019m proud to join Senator Lummis on this common-sense bill to create a strategic Bitcoin reserve and codify President Trump\u2019s executive order,\u201d Justice said in a statement.\u00a0
\n\u201cThis bill represents America\u2019s continued leadership in financial innovation, bolsters both our economic security, and gives us an opportunity to wrangle in our soaring national debt,\u201d he added.\u00a0
\nOther changes
\nThe bill also now sets a formal evaluation process for Bitcoin forked assets and airdropped assets in the reserve.\u00a0
\nInitially, the bill required all forked assets to be stored in the reserve and couldn\u2019t be sold or disposed of for five years unless authorized by law.\u00a0
\nRelated: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded
\nThe new bill now directs the Secretary after the mandatory holding period to evaluate and retain the most valuable asset based on market capitalization while retaining the \u201cdominant asset.\u201d\u00a0
\nBitcoin has hard forked a number of times in the past to create new cryptocurrencies, most notably Bitcoin Cash (BCH), which forked on Aug. 1, 2017, and Bitcoin Gold (BTG), which forked on Oct. 24, 2017.\u00a0
\nLummis\u2019 reintroduced bill comes just days after US President Donald Trump signed an executive order to create a \u201cStrategic Bitcoin Reserve\u201d and a \u201cDigital Asset Stockpile.\u201d
\nThe reserve and stockpile will initially use cryptocurrency forfeited in government criminal and civil cases, but the reserve won\u2019t sell the stashed Bitcoin and will use \u201cbudget-neutral\u201d ways to increase its size, while tokens from the stockpile could be sold.
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