{"id":8381,"date":"2025-05-04T07:56:16","date_gmt":"2025-05-04T07:56:16","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=8381"},"modified":"2025-05-04T07:56:18","modified_gmt":"2025-05-04T07:56:18","slug":"senator-lummis-trump-backs-proposal-for-1m-bitcoin-u-s-strategic-reserve","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/05\/04\/senator-lummis-trump-backs-proposal-for-1m-bitcoin-u-s-strategic-reserve\/","title":{"rendered":"Senator Lummis: Trump Backs Proposal for 1M Bitcoin U.S. Strategic Reserve"},"content":{"rendered":"\n

In a bold policy push, U.S. Senator Cynthia Lummis revealed that former President Donald Trump supports her newly introduced BITCOIN Act<\/strong>, which would require the federal government to acquire 1 million Bitcoins<\/strong> as part of a strategic reserve. The announcement, made during her May 2 address to the U.S. Senate, signals a major political shift toward institutional adoption of Bitcoin at the highest levels of government.<\/p>\n\n\n\n

Trump Endorses 1M BTC Plan<\/h3>\n\n\n\n

\u201cThe BITCOIN Act is the only solution to our nation\u2019s $36 trillion debt,\u201d Lummis said in her Senate speech, emphasizing that President Trump recognizes Bitcoin\u2019s potential to anchor America\u2019s financial future. She added, \u201cI\u2019m particularly pleased with President Trump\u2019s support for my strategic Bitcoin reserve initiative, which will address our national debt, while securing America\u2019s position as the global leader in financial innovation.\u201d<\/em><\/p>\n\n\n\n

According to the bill, the U.S. government would gradually accumulate 1 million BTC over five years roughly 5% of Bitcoin\u2019s total capped supply of 21 million. Such a move would make the U.S. the largest sovereign Bitcoin holder globally, far surpassing its current estimated holdings of 198,000 BTC<\/strong>, much of it seized from criminal investigations.<\/p>\n\n\n\n

A Bold Strategy Amid Growing Demand<\/h3>\n\n\n\n

With Bitcoin currently trading near $96,000<\/strong>, the U.S. would need to invest approximately $76 billion<\/strong> to meet the 1 million BTC goal at today\u2019s market prices. However, Lummis and others believe that the strategic reserve would likely drive further institutional interest, potentially accelerating Bitcoin\u2019s value over time.<\/p>\n\n\n\n

Lummis also defended the plan\u2019s long-term benefits for everyday Americans:<\/p>\n\n\n\n

\n

\u201cBitcoin puts the everyday American and the everyday worker all over the world in control over their own money,\u201d<\/em> she said.
\u201cAs Bitcoin use grows, the entire system becomes more secure, robust, and aligned with global needs.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

Implications for the Market<\/h3>\n\n\n\n

The BITCOIN Act, if passed, would dramatically reduce available Bitcoin supply on the open market, fueling bullish momentum for BTC while creating new challenges for institutions racing to accumulate the asset. The U.S. would likely face competition from large private holders like Strategy<\/strong>, which recently announced an additional $84 million<\/strong> in Bitcoin purchases.<\/p>\n\n\n\n

With the Act gaining support and presidential endorsement, the possibility of a strategic Bitcoin reserve has moved from speculation to serious policy consideration setting the stage for what could be one of the most transformative financial decisions in U.S. history.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a bold policy push, U.S. Senator Cynthia Lummis revealed that former President Donald Trump supports her newly introduced BITCOIN Act, which would require the federal government to acquire 1 million Bitcoins as part of a strategic reserve. The announcement, made during her May 2 address to the U.S. Senate, signals a major political shift…<\/p>\n","protected":false},"author":3,"featured_media":8382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,947,895],"class_list":["post-8381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-lummis","tag-senator"],"yoast_head":"\nSenator Lummis: Trump Backs Proposal for 1M Bitcoin U.S. Strategic Reserve - Crypto News<\/title>\n<meta name=\"description\" content=\"Senator Cynthia Lummis reveals Donald Trump supports her BITCOIN Act, which proposes a U.S. strategic reserve of 1 million Bitcoins to tackle national debt and secure financial leadership.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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