United States Senator Cynthia Lummis of Wyoming is optimistic that a strategic Bitcoin reserve could be realized quite fast under the incoming Trump administration. Following former President Donald Trump’s proposal to create a US strategic BTC reserve, Lummis introduced the Bitcoin Act at the end of July, outlining a comprehensive plan to integrate BTC into the country’s financial infrastructure. Lummis’s draft Strategic Bitcoin Reserve Bill proposes the establishment of a network of decentralized storage facilities across the United States to securely hold Bitcoin reserves. The bill mandates the US Treasury to purchase 200,000 BTC annually over five years, totaling one million BTC, and requires the government to hold these reserves for a minimum of 20 years. It also calls for implementing a proof of reserves system to verify holdings and consolidating all BTC currently held by the US government into the new reserve. Today, Senator Lummis expressed confidence in the plan’s feasibility, stating on X: “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 the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act!” Her post came in response to David Bailey, CEO of BTC Inc., who has been instrumental in advising Trump on pro-crypto policies. As reported by Bitcoinist, Bailey had earlier suggested that the BTC reserve could be established swiftly under the new administration. Now, he wrote: The Bitcoin and Crypto industry’s policy wishlist is long and pressing… but the Strategic Bitcoin Reserve is the #1 most urgent and transformational policy on President Trump’s agenda. The downstream effects change everything. We must get it done in the first 100 days. Bailey also proposed a broader application of BTC within government programs. He suggested that if Robert F. Kennedy Jr. is appointed Secretary of Health and Human Services and becomes responsible for administering Social Security, there should be a conversation about allocating 5–10% of Social Security payments into BTC held at the Strategic Reserve.
