Senator Lummis reintroduces Bitcoin Act, proposing 1 million BTC purchase

Source: Crypto Briefing

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Senator Cynthia Lummis announced today her plans to reintroduce the Bitcoin Act at a Bitcoin-focused conference hosted by the Bitcoin Policy Institute. The event will also feature Michael Saylor and Vivek Ramaswamy.

🇺🇸 BREAKING: Senator Cynthia Lummis to reintroduce the Bitcoin Act, proposing a $1 million Bitcoin purchase pic.twitter.com/f7TJBHhEqA

— Crypto Briefing (@Crypto_Briefing) March 11, 2025

On Tuesday, Lummis also shared a short video about the Bitcoin reserve hype, stating “Big things are coming” and that she is “for real this time.”

I am for real this time. pic.twitter.com/0ejFxTY5ta

— Senator Cynthia Lummis (@SenLummis) March 11, 2025

Lummis first introduced the bill in July 2024, but failed to advance it due to limited bipartisan support and skepticism about its feasibility. It effectively “died” at the end of the 2023–2024 congressional session.

Lummis would need to reintroduce the BITCOIN Act in the current Congress if she wants it to be considered again. Bills that do not pass during a congressional session must be reintroduced in the next session to remain active.

Last week, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, which aligns with some goals of the BITCOIN Act but does not involve new government acquisitions of Bitcoin. Instead, it formalizes policies for managing seized assets.

According to David Bailey, CEO of Bitcoin Inc, Trump’s executive order is the first step; the next step is to push for legislation in Congress to solidify the creation of a strategic Bitcoin reserve.

“What people are missing about the SBR is that it’s not implemented only via executive action or via legislation… we want both. The executive action clears the political lane and tells Congress this is a priority,” Bailey stated.

“It’s time for the BITCOIN Act,” he added.

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Author: Vivian Nguyen