Senator Lummis asserts that Trump endorses legislation requiring the U.S. administration to acquire a million Bitcoins.
Headline: Senate's BITCOIN Act Shakes Up Crypto World: Donald Trump Backs $36 Trillion Debt Solution
Tagline: President Trump supports Senator Cynthia Lummis' Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, aiming to establish a crypto reserve and potentially stabilize the economy.
The crypto world is buzzing with excitement as Senator Cynthia Lummis (R-WY) introduces the BITCOIN Act in the Senate, a proposed solution to the U.S.'s staggering $36 trillion debt. In a surprising twist, President Donald Trump has voiced his support for the bill, which, if passed, would establish a decentralized network of Bitcoin vaults operated by the Department of the Treasury and implement a one-million-unit Bitcoin purchase program to control approximately 5% of the top crypto asset's supply.
"I'm particularly pleased with President Trump's support for my BITCOIN Act," said Lummis during a recent speech. "The BITCOIN Act is the only solution to our nation's debt. I'm grateful for a forward-thinking president who not only recognizes this but acts on it."
Lummis, a longtime Bitcoin advocate, believes that the potential legislation would secure the country's position as "a global leader in financial innovation." By capitalizing on the growth of this digital asset, the country could pave the way for a brighter future in the realm of finance.
"As Bitcoin comes into more usage, its use makes the whole system more secure, more robust, and more capable of serving our needs all over the world," added Lummis. "We should be the global leader with this fantastic new ledger-based asset that is in a digital format that is going to be transformative of the everyday economy and puts the everyday American, in fact, the everyday worker all over the world, in control of their own money."
Whether this ambitious proposal will become reality remains uncertain amid concerns about the speculative nature of crypto investments. Nevertheless, the Bitcoin community is keeping a close eye on the unfolding developments, anticipating potential implications for the crypto market and the broader financial landscape.
Stay tuned for more updates, and don't miss out on the latest stories, FAQ, and opportunities to submit guest posts at HODLX. Crypto Markets awaits your submissions for guest posts, press releases, sponsored posts, and advertising opportunities to keep you informed about the ever-evolving crypto industry.
References:1. Cryptonews.com, "Senator Lummis Gives Update on Her Bitcoin Act Ahead of President's Decision," accessed May 3, 20252. BusinessInsider.com, "Trump says he supports Sen. Cynthia Lummis' Bitcoin Act to address national debt," accessed May 3, 20253. Bitcoinmagazine.com, "Cynthia Lummis Reintroduces the Bitcoin Act as She Aims to Secure US Position in Financial Innovation," accessed May 3, 2025
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- Senator Cynthia Lummis' Bitcoin Act, a potential solution for the $36 trillion U.S. debt, proposes the establishment of a decentralized network of Bitcoin vaults and a one-million-unit Bitcoin purchase program, with President Trump voicing his support for the proposal.
- The BITCOIN Act, if passed, could see the Department of the Treasury operating Bitcoin vaults, aiming to control approximately 5% of the top crypto asset's supply and potentially stabilizing the economy.
- Lummis, a Bitcoin advocate, believes that the BITCOIN Act will secure the country's position as a global leader in financial innovation, capitalizing on the growth of digital assets like Bitcoin to pave the way for a brighter future in the realm of finance.
- Despite concerns about the speculative nature of crypto investments, the Bitcoin community closely monitors the unfolding developments, anticipating potential implications for the crypto market and the broader financial landscape.
- Keep updated on the latest Bitcoin news, policy-and-legislation, and industry announcements at HODLX, where you can submit guest posts, press releases, sponsored posts, and advertising opportunities to stay informed about the ever-evolving crypto industry. Don't miss out on $GENERAL_NEWS and $POLITICS highlights related to the BITCOIN Act, as well as the latest FAQs for $CRYPTOCURRENCY, $ETHEREUM, and altcoins.
