Reintroducing the Strategic Bitcoin Reserve Bill

Senator Lummis announced yesterday, March 11, the reintroduction of a bill aimed at establishing a strategic Bitcoin reserve for the United States, in support of President Trump's vision.

The bill was first introduced in July 2024 and reintroduced during the new legislative session, sponsored by several Republicans.

The bill proposes the creation of secure vaults managed by the Treasury Department, with a plan to purchase one million Bitcoins over five years, at a rate of 200,000 Bitcoins per year, with a minimum holding period of 20 years.

The bill also calls for funding the initiative through various government sources while enhancing investors' self-custody rights.

Lumis asserts that Bitcoin is a national necessity to promote financial leadership, while Tommy Tuberville argues that it can be used to pay down the national debt.

Bernie Moreno described the strategic reserve as a crucial step to improving the US balance sheet.

Nineteen states are considering legislation regarding Bitcoin reserves, while President Trump signed an executive order on March 6 to establish a reserve using seized Bitcoin.

In light of these developments, Bitcoin rose by 1.1%, reaching nearly $83,000.