Senator Cynthia Lummis has introduced legislation to establish a Strategic Bitcoin Reserve, a government initiative that would acquire up to 1 million bitcoins over five years, according to cryptocurrency media reports.
The legislation details a program to purchase approximately 200,000 bitcoins per year. Based on current valuations, the total acquisition could exceed $80 billion.
According to sources familiar with the legislation, the proposed Strategic Bitcoin Reserve would hold acquired cryptocurrencies “in trust for the United States” and conduct purchases “in a transparent and strategic manner to minimize market disruption.”
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Flashback: Lummis Pitches Strategic Bitcoin Reserve, Critics Call It Political Pandering
Market analysts note that the bill comes amid recent cryptocurrency volatility influenced by President Donald Trump’s decision not to liquidate approximately $20 billion in Bitcoin seized from criminal operations.
The proposed Strategic Bitcoin Reserve bill now introduces a potential government buying program into a market that had been anticipating possible government selling pressure.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
