US Senator Cynthia Lummis remains hopeful that her proposal to establish a national Bitcoin reserve could be passed within the first 100 days of Donald Trump’s second presidential term.
On November 11, Lummis shared on She argued that this legislation would improve the US financial landscape and cement its status as a progressive leader in the Bitcoin space.
According to the legislator:
“I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people. It is a game changer for our nation’s solvency. Let’s put America on sound financial footing and pass the Bitcoin Act!”
Lummis introduced the bill in July, with the aim of using money from the Federal Reserve and the Treasury Department to acquire one million bitcoins. This would make the United States the largest government Bitcoin holder, accounting for around 5% of the network’s total supply – comparable to the country’s stake in global gold reserves.
The legislation also aims to establish a Bitcoin reserve and protect property rights to the ownership and custody of Bitcoin. It proposes a decentralized network of secure vaults, supervised by the Ministry of Finance, to ensure the highest level of asset protection.
Although the bill previously stalled in the Senate, advocates are optimistic about its future given Trump’s favorable attitude toward the idea. David Bailey, an outspoken supporter of Trump’s Bitcoin agenda, has done just that stressed that building the Bitcoin reserve is the top priority for the president-elect’s first 100 days.
Despite this strong support, the bill would still have to go through the legislative process, including approval by the Senate and House of Representatives, before reaching the president for final approval.
Bipartisan support
The idea of a national Bitcoin reserve has already received bipartisan support. Democratic Rep. Ro Khanna voiced his support in a recent podcast, noting that Bitcoin’s growth potential makes it an exciting choice for the Federal Reserve to improve the country’s financial standards. He declared:
“We want to make sure that we are open to having bitcoin as part of the Federal Reserve and as a reserve asset because of the potential for appreciation and because of the potential to allow America to set the financial standards.”
VanEck’s Head of Digital Assets Research, Matthew Sigel, emphasized that a strategic Bitcoin reserve could strengthen US influence in several key areas, including energy production, artificial intelligence and decentralized finance.
Sigel also pointed out that the US government could reallocate more than 200,000 BTC, while the rest could be mined through “public-private partnerships without putting capital at risk in some of these new border cities.”