Senator Lummis: Bitcoin Act Is Key to Solving $36T U.S. Debt

By: crypto news|2025/05/02 18:45:01

“The BITCOIN Act is the only solution to our nation’s $36 trillion debt,” declared U.S. Senator Cynthia Lummis in a bold new push that’s sending shockwaves through Washington and Wall Street alike.Bitcoin Act Is Key to Solving $36T U.S. Debt, Source: XHer proposal has once again taken center stage—this time with full support from President Donald Trump, who is pushing for America to lead the world in digital financial innovation. “I am particularly pleased with President Trump’s support of my strategic reserve initiative,” Lummis added.In March 2025, Senator Lummis officially reintroduced the BITCOIN Act, a sweeping legislative proposal that aims to establish a strategic Bitcoin reserve for the United States.The plan is for the acquisition of 1 million Bitcoins—roughly 5% of the entire supply—over the next five years. To support the effort, the government would sell a portion of its gold holdings, changing from traditional assets to what Lummis describes as a “transformational, digital store of value.”The Act, which was introduced in July 2024, failed to pass in its original form. However, with economic constraints increasing and public trust in fiat currencies dwindling, Lummis believes the timing is now optimal. She claims Bitcoin may bring fiscal stability, prevent inflation, and act as a hedge against geopolitical and financial threats.She called Bitcoin a “new ledger-based asset” that brings transparency, security, and global utility. In her view, Bitcoin isn’t just a hedge—it’s a chance to modernize the economy and protect national wealth in a time of mounting debt and uncertain global markets.She also say the move could position the U.S. as the world’s leading Bitcoin nation, similar to how it once led the gold standard. Critics argue it’s risky and speculative—but for Lummis and Trump, the message is clear: America must lead the digital currency revolution.Also Read: Senator Cynthia Lummis to Co-Host Bitcoin for America Forum

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