- Cynthia Lummis emphasized Bitcoin reserves’ 24/7 auditability with a basic computer.
- She proposed the Bitcoin Act to establish a U.S. Bitcoin reserve.
Senator Cynthia Lummis urges the United States to modernize its national reserves to feature Bitcoin. Serving as a representative of Wyoming in the U.S. Senate, Lummis contends that Bitcoin’s openness and decentralization enable auditing in real-time, which may fortify fiscal accountability.
Lummis stated:
“A bitcoin reserve could be audited any time 24/7 with a basic computer.
It’s time to upgrade our reserves.”
As the newly appointed chair of the Senate Banking Subcommittee on Digital Assets, Lummis is actively pushing for policies integrating Bitcoin into the U.S. economy. Also, she has consistently championed regulatory clarity and legislation favorable to Bitcoin adoption.
Recently, in discussions, Lummis noted that interest in Bitcoin reserves is not only increasing in the U.S. but around the world, with countries like the United Arab Emirates also considering the same approach.
Lummis also reports to individual U.S. states, such as Pennsylvania, Texas, and Wisconsin, that are contemplating creating their own strategic Bitcoin reserves. The states tend to be early movers in financial innovation, possibly establishing a precedent for wider federal take-up.
Conversely, Lummis has put forth the Bitcoin Act within the Senate with a formal blueprint for the United States to buy and hold Bitcoin in national reserves. The legislation calls for the purchase of an acquisition program aiming for one million BTC—5% of Bitcoin’s entire supply.
As part of her advocacy, Lummis will discuss Bitcoin’s role in national reserves and its potential benefits for financial stability at Bitcoin 2025, a major industry conference. Moreover, she has urged Bitcoin proponents to actively engage with lawmakers. It emphasizes the importance of state-led initiatives in driving national policy changes.
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