Name
Senator Lummis reintroduces BITCOIN Act, proposing 1 million BTC purchase
Description
Senator Cynthia Lummis has reintroduced the BITCOIN Act, a bill proposing the U.S. acquire up to 1 million BTC over five years for a Strategic Bitcoin Reserve. The legislation mandates transparent proof-of-reserve audits, a 20-year holding period, and segregated state accounts.
Publish date
5:00am, Tuesday, March 11, 2025
Referenced by
What people are missing about the SBR is that it’s not implemented only via executive action or via legislation… we want both. The executive action clears the political lane and tells Congress this is a priority,” Bailey stated
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To cover expenses, the act designates the first $6 billion of annual Fed remittances from 2025 to 2029 for the Bitcoin Purchase Program
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The senator first unveiled the bill in July 2024, but failed to advance it due to limited bipartisan support and skepticism about its feasibility
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