Lummis reintroduces Bitcoin Act as U.S. eyes strategic BTC holdings

Senator Cynthia Lummis announced the reintroduction of the Bitcoin Act at a Bitcoin-focused conference hosted by the Bitcoin Policy Institute. 

The bill, co-sponsored by West Virginia Republican Senator Jim Justice, proposes that the U.S. government acquire 1 million Bitcoin (BTC) as part of its national reserve.

Lummis previously introduced the legislation in July 2024, but it failed to advance due to limited bipartisan support. With the new congressional session underway, she seeks to revive the effort. 

Lummis had previously teased this announcement. She revealed that she would be a co-host at the Bitcoin for America event, which was scheduled for Washington, D.C.

The Bitcoin Policy Institute organized the event to gather leading executives, public officials, and policy experts to explore Bitcoin’s significance in the U.S. economy.

In her announcement, Lummis referenced Bitcoin’s symbol (₿), stating, “₿ig things cooking,” which many took to suggest that major developments or potential legislative initiatives regarding Bitcoin may be on the horizon.

Strategic Bitcoin reserve

The move follows President Donald Trump’s recent executive order establishing a Strategic Bitcoin Reserve. However, Trump’s order focuses on managing seized crypto assets rather than acquiring new holdings. 

Lummis’ proposal aims to take a more proactive stance on Bitcoin adoption at the federal level.