One of her major aims is to establish a “strategic Bitcoin reserve,” which would position Bitcoin at the heart of the United States’ financial policy and potentially offer the country a competitive advantage in the digital economy. The measure proposes that the United States government acquire around 1 million bitcoins, or roughly 5% of the entire bitcoin supply, and retain it for at least 20 years.
Lummis believes that this measure will give financial stability and a hedge against inflation, particularly during unpredictable economic times. With the recent political success of pro-crypto Republicans, Lummis’ idea may garner the necessary support. Former President Donald Trump, who has been vociferous about making the United States a global leader in cryptocurrency, initially proposed that the government keep all Bitcoin confiscated during enforcement actions rather than selling it.
This strongly aligns with Lummis’ plan for a long-term Bitcoin reserve. Bitcoin prices rose following election results that showed Trump winning and a likely Republican majority in both the Senate and, potentially, the House of Representatives. The spike reflects market trust in Trump and Republican leaders’ pro-crypto stances, as well as excitement about future measures that will benefit digital assets.
As Lummis continues to advocate for Bitcoin acceptance at the federal level, her influence is shaping a rising pro-crypto movement in Congress. While her seat was not up for reelection, Lummis remains a strong champion for bitcoin regulation and has expressed her wish to see the United States become a global leader in the crypto business.
The election results also revealed a significant shift in political support for cryptocurrencies. Several pro-crypto candidates were successful, including those running on platforms promoting digital asset-friendly legislation. Observers attribute some Democratic defeats to the party’s divided stance on crypto regulation, leading to conflict with the digital asset community.
Senator Lummis’ approach shows Congress’ increased interest in adopting policies that promote financial innovation. Lummis’ focus on creating a Bitcoin reserve attempts to secure a unique asset for the United States, stressing her belief in cryptocurrencies as a crucial component of the country’s future economic growth.
