Trump Backs Senator Lummis’ Plan for 1M Bitcoin U.S. Strategic Reserve

Trump Apparently Supports U.S. Strategic Bitcoin Reserve On May 2, Senator Cynthia Lummis revealed that former President Donald Trump supports her legislative bill—the BITCOIN Act. The bill would mandate the U.S. government to buy a strategic reserve of 1 million Bitcoins over five years. “I’m particularly pleased with President Trump’s support for my strategic Bitcoin reserve initiative,” said Lummis during her Senate speech. She emphasized that the reserve would help manage the national debt and reinforce America’s leadership in financial technology. The BITCOIN Act: A Path to Crypto Dominance If passed, the BITCOIN Act would render the U.S. the global leader in Bitcoin ownership with about 4.7% of the capped total supply of 21 million BTC. The bill calls for a multi-year plan of purchasing 1 million BTC, significantly more than the current U.S. government holdings of about 198,000 BTC. At current valuations, purchasing the remaining 802,000 BTC would cost about $76 billion. But the real cost may rise very fast because government buying pressure would surely drive the price of Bitcoin up, considering its relatively illiquid market. Bitcoin as a Tool for Economic Empowerment Lummis highlighted the role of Bitcoin as empowering, stating it makes control return to the hands of common workers. “Bitcoin puts the average American and the average worker everywhere in the world in control of their own money,” she stated. She also added that as the usage of Bitcoin is expanded, it strengthens and secures the financial system. Thus, Lummis believes that the U.S. should be leading the way in integrating Bitcoin into its financial system. Strategic Impact and Market Competition Such a strategic reserve of Bitcoin would not just transform U.S. monetary policy but could also create hysterical market activity. Giant players like Strategy, which recently invested $84 million in Bitcoin, can look forward to being contested by the federal government. If the BITCOIN Act becomes law, it would be a bold and historic shift in U.S. financial policy—aligning national security, monetary stability, and innovation with digital assets.

Source: BTC Pulse