Senator Lummis dropped a crypto bombshell with her audacious plan to build a federal Bitcoin reserve of one million BTC. The proposal calls for systematic purchases of 200,000 Bitcoin annually over five years, funded through Federal Reserve and Treasury reallocations. The initiative, backed by bipartisan support, sent Bitcoin prices soaring and sparked a 120% surge in trading volume. Storage will utilize decentralized vaults – not Fort Knox. This game-changing strategy hints at America's digital future.
While Bitcoin enthusiasts were busy debating the next price target, Senator Cynthia Lummis dropped a bombshell that sent shockwaves through the crypto world. Her ambitious legislation proposes establishing a strategic Bitcoin reserve exceeding one million BTC, and she's not messing around.
Senator Lummis stuns crypto markets with groundbreaking proposal for massive government Bitcoin reserve, aiming to accumulate over one million BTC.
The plan? Scoop up 200,000 Bitcoin annually for five years, funded through Federal Reserve and Treasury reallocations.
This isn't your typical government crypto grab. The reserve would be built through a combination of direct purchases, civil forfeitures, and even gifts – because apparently, some people just love giving their Bitcoin to Uncle Sam.
And forget about storing it all in Fort Knox; they're planning a network of decentralized vaults. How's that for irony? With hardware wallet security becoming increasingly crucial for large-scale storage, this approach aligns with best practices in cryptocurrency protection.
The timing couldn't be more interesting, as Lummis's plan aligns with President Trump's executive order on managing seized Bitcoin assets. But Lummis is taking it several steps further, pushing for active acquisition strategies that go well beyond just managing confiscated crypto. The initiative aims to maintain financial technology leadership while embracing digital innovation.
The market's reaction was predictable – Bitcoin prices shot through the roof, dragging other cryptocurrencies along for the ride. Ethereum and Cardano holders weren't complaining either, as the rising tide lifted all crypto boats. The announcement triggered a massive 120% spike in trading volume across major exchanges.
Trading volumes exploded, and futures traders suddenly remembered how to be optimistic.
Support for the initiative is growing, with Republican senators Jim Justice and Tommy Tuberville jumping on board. Even Congressman Nick Begich introduced a companion bill in the House, because apparently, one Bitcoin bill isn't enough.
The economic implications are massive. This isn't just about hodling government-style; it's about reshaping America's financial strategy.
With a mandatory 20-year holding period, they're clearly playing the long game. It's a bold move to strengthen U.S. financial innovation and competitiveness globally, though critics might argue it's just the government finally admitting they should've bought the dip years ago.
