Senator Lummis Optimistic About Strategic Bitcoin Reserve as Trump Presidency Approaches

Senator Cynthia Lummis from Wyoming is feeling optimistic about the proposed strategic Bitcoin reserve. She believes some aspects could start taking shape after President-elect Donald Trump’s inauguration.

During a recent chat on X spaces, hosted by VanEck, Lummis shared her hopes for progress in 2025. However, she didn’t give a specific timeline.

Lummis pointed out that certain actions related to the proposed bill could happen even before Congress approves it. “If we win with the schedule proposed in the BITCOIN Act, we could begin using our existing asset forfeiture Bitcoin to fund the first year,” she said. “Then we can start converting our gold certificates into Bitcoin.”

She added, “Some of what we're proposing could take form right after President Trump is sworn in.”

The BITCOIN Act aims to create a strategic reserve in Bitcoin. This move would support America’s balance sheet and tackle the growing debt, which has now exceeded $35 trillion. The bill outlines a plan to purchase $1 million worth of Bitcoin over five years, aiming to acquire 5% of Bitcoin’s total supply. There’s a minimum holding period of 20 years.

Funding for these Bitcoin purchases would come from a few sources mentioned in the bill. One of them includes revaluing the Federal Reserve banks' gold certificates to their fair market value.

President-elect Trump has previously suggested that the U.S. should become a “Bitcoin superpower.” He even talked about creating a national Bitcoin reserve during a conference. Bettors on the prediction market platform Polymarket have estimated a 35% chance that Trump will establish a Bitcoin reserve.

As of now, Bitcoin is trading at $92,425.03, up 0.92% in the last 24 hours, according to Benzinga Pro.