Cynthia Lammis Reaffirms Vision for Strategic Bitcoin Reserve in America

Wyoming Senator Cynthia Lammis reiterated her commitment to establishing a strategic Bitcoin (BTC) reserve for the United States.

The lawmaker, known for her staunch pro-crypto stance, highlighted these plans following recent Republican victories in the Senate, a largely digital-asset-friendly legislature.

Senator to move forward with Strategic BTC Reserve Bill.

In a Nov. 6 post on X, Lummis confidently declared that “we will build a strategic Bitcoin reserve,” signaling a renewed push for legislation she introduced earlier in the year.

The senator Proposal, named Increasing innovation, technology and competitiveness through the Facilitated Investment National Act, or BITCOIN for short, will lead the US Treasury to buy a million BTC over five years.

Additionally, it emphasizes long-term BTC investment, requiring the cryptocurrency to remain in secure vaults managed by government agencies for at least 20 years.

Lummis has been a prominent voice for crypto since her election to Congress in 2021. Although not on the ballot, the 70-year-old has maintained her active support for blockchain and crypto initiatives during the 2024 campaign.

Her proposal builds on an idea floated by President-elect Donald Trump at a 2024 Bitcoin conference in Nashville, Tennessee. At the event, Trump proposed that the US government stop selling any BTC seized by law enforcement, but instead build it into a strategic reserve to regulate the crypto sector and help pay off the country's multi-trillion dollar debt.

Most pro-crypto can understand push proposals.

It remains to be seen how Sen. Lummis' proposal will fare as it moves through the legislative process. However, she seems confident that the BITCOIN Act will be successfully passed, as 278 pro-crypto candidates entered Congress after the election results.

Additionally, Republicans hold majorities in both the Senate and the House of Representatives after flipping three Senate seats.

In a sign of optimism for the industry, Bitcoin quickly hit a new all-time high for the second time in a row, breaking above $76,000 just days after hitting the $75,000 mark.

The critical phase following Trump's election victory has heightened focus on the potential of government-backed BTC reserves, with industry insiders such as Samson Mou declaring that state-by-state bitcoin adoption is “about to kick into high gear.”