Name
Sen. Lummis Reintroduces Bitcoin Act, Which Would Allow US to Buy $80 Billion in BTC
Description
Sen. Lummis has reintroduced the BITCOIN Act, to codify President Trump’s Bitcoin reserve initiative while authorizing the purchase of 1 million BTC ($80 billion) over five years. The legislation has five Senate co-sponsors, unlike Trump’s "never sell" policy, allows for limited sales under strict conditions.
Publish date
7:00am, Tuesday, March 11, 2025
Referenced by
The Treasury Secretary would be responsible for both coordinating the acquisition of new Bitcoin and maintaining the reserve. All new BTC added to the program would have to be held for at least 20 years before it could be sold. And any current or future Treasury secretary would be prohibited from selling off more than 10 percent of the reserve during any two-year period
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The bill, dubbed the BITCOIN Act, already has five cosponsors in the Senate, all Republicans. They include Jim Justice (R-WV), Tommy Tuberville (R-AL), Roger Marshall (R-KS), Marsha Blackburn (R-TN), and Bernie Moreno (R-OH), whose election to the Senate in November was aided considerably by pro-crypto super PACs
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Cynthia Lummis announced the reintroduction of the Bitcoin Act
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