US Senator Cynthia Lummis Eyes Bitcoin Reserve Bill in Trump’s First 100 Days

US Senator Cynthia Lummis remains optimistic that her national Bitcoin reserve bill proposal could pass within the first 100 days of Donald Trump’s second term.

On November 11, Lummis posted on X, expressing confidence that bipartisan support could propel the bill forward if public support grows. She argued that this legislation would enhance the US financial system and reinforce the country’s leadership in Bitcoin.

Lummis introduced the Bitcoin Reserve bill in July, intending to use funds from the Federal Reserve and Treasury to acquire one million bitcoins. This amount would make the United States the largest government Bitcoin holder, representing about 5% of the network’s supply — similar to the US gold reserve stake.

“We can get this done with bipartisan support in the first 100 days IF we have the support of the people. It is a game changer for the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act,” Lummis said on X.

The legislation also aims to establish a Bitcoin reserve and secure property rights over Bitcoin ownership and custody. It proposes a decentralized network of secure vaults under Treasury Department oversight, ensuring top-tier asset protection.

Although the bill previously stalled in the Senate, advocates believe it has a better chance now, with Trump favorably inclined toward it.

“The Bitcoin and Crypto industry’s policy wishlist is long and pressing… but the Strategic Bitcoin Reserve is the #1 most urgent and transformational policy on President Trump’s agenda. The downstream effects change everything. We must get it done in the first 100 days,” David Bailey remarked on X.

Despite this enthusiasm, the bill would still need to go through the full legislative process, including approvals from the Senate and House, before reaching the president for final authorization.

The concept of a national Bitcoin reserve bill has already drawn bipartisan interest. Democratic Representative Ro Khanna recently voiced support on a podcast, highlighting Bitcoin’s growth potential.

“We want to make sure that we have openness to having Bitcoin as part of the Federal Reserve and as a reserve asset because of its potential for appreciation and its potential to allow America to set financial standards,” Khanna said.

Additionally, Matthew Sigel, Head of Digital Assets Research at VanEck, pointed out that a national Bitcoin reserve could strengthen US influence in areas such as energy production, artificial intelligence, and decentralized finance. He also noted that the US could use over 200,000 BTC while mining more through public-private partnerships in frontier cities, with no capital risk involved.

Lummis and her supporters believe this proposal could strengthen the Bitcoin-backed economy and ensure America’s position at the forefront of financial innovation.

The post US Senator Cynthia Lummis Eyes Bitcoin Reserve Bill in Trump’s First 100 Days appeared first on BeInCrypto.