Breaking News: The Great Bitcoin Buy-In
Senator Lummis States Trump Endorses Legislation Requiring U.S. authorities to Acquire One Million Bitcoins
Senator Cynthia Lummis (R-WY) has proposed an intriguing bill, the Bitcoin Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act. This legislation, aiming to establish a strategic U.S. Bitcoin reserve, has gained a significant boost with President Donald Trump's endorsement.
Cracking the BITCOIN Act
The BITCOIN Act seeks to empower the Department of the Treasury to operate decentralized Bitcoin vaults and implement a five-year program for the U.S. government to purchase one million Bitcoins. This move amounts to 5% of the total BTC supply, positioning the U.S. as a leading player in the Bitcoin market [2][4][5].
A Golden Exchange for Bitcoin?
To finance this ambitious plan, the government may consider selling a portion of its gold reserves, embracing a digital revolution for its financial holdings [5]. This shift could bring several financial benefits, including enhanced fiscal stability, protection against inflation, and safeguarding the economy from geopolitical uncertainties [5].
Is Trump Buying What Lummis is Selling?
Trump's backing of the BITCOIN Act showcases his dedication to pioneering financial innovations under U.S. leadership [2][3][4]. The former president's support lends credibility to the legislative proposal, increasing its chances of success.
To Pass or Not to Pass - The BITCOIN Act's Journey Ahead
The BITCOIN Act was initially introduced in 2024, but it failed to pass. Now, reintroduced in March 2025, its prospects remain uncertain [4][5]. The acquisition program could face roadblocks due to Bitcoin's relatively illiquid supply and competition with other investors [4][5]. The cost of purchasing 1 million Bitcoins may be substantial, potentially influencing the market price due to dynamics within the Bitcoin ecosystem [4].
Follow the Chronicles of the BITCOIN Act
Stay informed on the latest developments regarding the BITCOIN Act as it progresses through the approval process. Find updates, insights, and expert analyses on The Daily Hodl.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Always do your own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.
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- The BITCOIN Act, reintroduced in March 2025, could face competition with other investors due to Bitcoin's relatively illiquid supply, as noted in general news sources [4][5].
- The success of the BITCOIN Act, which aims to establish a strategic U.S. Bitcoin reserve, may be influenced by the dynamics within the Bitcoin ecosystem, particularly the potential market price impact from the cost of purchasing 1 million Bitcoins [4].
- Alongside the BITCOIN Act, other cryptocurrency initiatives are gaining traction. For example, aZen Secures $1.2 Million Seed Round and Web 3.0 Grants to build DePIN for Ubiquitous AI after onboarding 600,000 users [5].
- In the altcoin sector, FLOKI and Rice Robotics have partnered to launch an AI companion robot offering token rewards [5].
- It's not just Bitcoin and altcoins in the spotlight; Ethereum continues to be a vital player in the industry, with STEPN and the Argentina Football Association announcing their latest NFT drop [5]. Policymakers and legislators remain active in shaping the cryptocurrency landscape, as demonstrated by the BITCOIN Act, and this area is worth following, especially in terms of deglobalization and its potential impacts on crypto regulations [4][5].
