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Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
Lummis Bitcoin Reserve news

US Bitcoin Reserve: Lummis Confirms Treasury Probes Direct BTC Buys

Jake Simmons
by Jake Simmons
6 months ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In an interview with Bitcoin commentator Natalie Brunell, Senator Cynthia Lummis (R-WY) reaffirmed her commitment to establishing a US Strategic Bitcoin Reserve (SBR), disclosing that the Treasury Department is probing its legal authority to purchase and custody BTC on behalf of the federal government. The senator believes such a move could significantly reduce the national debt over the long term.

Senator Lummis Pushes Bitcoin Reserve

Lummis pointed to roughly 200,000 BTC in the US Marshals Service’s asset forfeiture program as a possible starting point: “Working with Treasury, and the Treasury Secretary, we’re trying to find out which assets among those could become the basis of the first year’s investment in a strategic Bitcoin reserve.”

Further clarifying her stance, the senator noted she is determining whether a new law is required or if the administration already has the authority: “What I’m trying to figure out right now is whether it needs to be done legislatively or whether the Treasury Secretary has the authority to do it right now.”

Related Reading: April 5 Could Be A Game-Changer For Bitcoin: Here’s What To Watch

Lummis proposes converting the seized BTC into an official “base investment,” which she says would be the foundation of a larger BTC reserve. If successful, this would mark the first time the US government deliberately and openly accumulated Bitcoin as a strategic asset.

One of Lummis’ main arguments for a SBR is its capacity to trim the federal debt, which she deems “irresponsibly high.” Under her Bitcoin Act, the US could also revalue its gold certificates—currently listed at a decades-old official price of $42 per ounce, far below market value—and deploy the difference toward purchasing BTC in a budget neutral way:

“My legislation would provide that we could take our gold certificates… bring them up to current fair market value for gold and then use that to buy Bitcoin, thereby creating a 1 million Bitcoin reserve over five years.”

Related Reading: Tether Expands Bitcoin Reserves With Nearly 9,000 BTC Buy—What’s The Plan?

She contends that holding this million BTC over a 20-year horizon could “cut the current national debt in half.” Citing extensive modeling—some from advocates like Michael Saylor—she believes the price appreciation of BTC has the potential to deliver significant gains to taxpayers.

New Episode Out Now! 🇺🇸

U.S. Senator Cynthia Lummis is leading the Bitcoin Revolution in Washington.

Her bold plans for America through Bitcoin & digital asset policy promise to reshape the financial system—reduce U.S. debt, protect Bitcoin self-custody, and reinforce dollar… pic.twitter.com/G1Rvl1ORDb

— Natalie Brunell ⚡️ (@natbrunell) April 1, 2025

The senator lauded President Trump’s recent executive orders that aim to make the United States “the digital asset capital of the world” by fostering a favorable environment for BTC mining, regulatory clarity, and a strategic reserve. According to Lummis, those moves stand in stark contrast to prior administrations, where “people neither knew nor wanted to talk about digital assets.”

However, Lummis also underscored the need for bipartisan collaboration, suggesting that while Bitcoin has now garnered interest in Republican circles, it should not become a strictly partisan endeavor: “We want to keep that momentum… We worked extremely hard to keep it bipartisan, so I can’t flip my brain and start to think of it as a partisan issue.”

At press time, BTC traded at $84,202.

Bitcoin price
BTC hovers above $84,000, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image from YouTube, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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