Senator Lummis Clears Path for Strategic Bitcoin Reserve Funding

Sen. Cynthia Lummis has cleared the way for the launch of the US Strategic Bitcoin Reserve. After confirming funding can begin immediately, she acknowledged President Trump’s executive order enabling this process. While legislative hurdles remain, Lummis expressed strong support for the initiative in response to ProCap BTC chief investment officer Jeff Park’s proposal utilizing $1 trillion from gold holdings to invest in Bitcoin. She highlighted the potential of this argument and the need to pass the BITCOIN Act. This act proposes acquiring 1 million Bitcoin over five years using budget-neutral funding, granting the US around 5% of Bitcoin’s total supply.