Senator Synthia Lummis announced the revival of the Bitcoin Act at a bitcoin-centered conference organized by Bitcoin Policy Institute.
BillCo-proposed by West Virginia Republican Senator Jim Justice, proposed that the US government acquired 1 million bitcoin (BTC) as part of its national reserve.
Lummis previously introduced the law in July 2024, but failed to move forward due to limited bipartished support. With the new Congress session, she wants to revive the effort.
Lummis had earlier waged this announcement. He revealed that he would be a co-hostage at the Bitcoin for America event, which was scheduled for Washington, DC
The Bitcoin Policy Institute organized the program to collect prominent officials, public authorities and policy experts to find out the importance of bitcoin in the American economy.
In her announcement, Lummis, referring to the symbol (₿) of the bitcoin, said, “₿ig Things Cooking”, which many people suggested that major development about bitcoin or potential legislative initiative could be on the horizon.
Strategic bitcoin reserved
The step follows President Donald Trump’s recent executive order, establishing a strategic bitcoin reserve. However, Trump’s order focuses on the management of the crypto assets seized rather than receiving new holdings.
The purpose of Lumis’s proposal is to adopt a more active stand on adopting bitcoins at the federal level.
