On March 11, Sen. Cynthia Ramis announced on X (formerly Twitter) that she would reintroduce the Bitcoin bill in today’s US Congress.
The title “Improve Innovation, Technology and Competitiveness through the Nationally Optimized Investment (Bitcoin) Act,” the act would pave the way for President Donald Trump’s decision to establish a strategic Bitcoin reserve.
“Bitcoin is not just a technology opportunity, but a national order for America’s continued financial leadership in the 21st century,” said the Republican senator from Wyoming.
Last week, President Trump signed an executive order to establish a strategic Bitcoin reserve. For now, it consists of bitcoin confiscated by a federal agency during a criminal or civil lawsuit. The government will also acquire additional Bitcoin in the future.
Senator Lummis’ Bitcoin bill, once legislative, codifies the aforementioned executive order. It also mentions Bitcoin purchase orders that require the US government to purchase up to 1 million Bitcoin (about 5% of total Bitcoin supply) for over five years. As stated in the bill, strategic Bitcoin reserves aim to mimic the size and scope of US gold reserves.
The bill directs the Treasury to operate a decentralized network of secure Bitcoin vaults to manage protected areas.
Additionally, the bill promotes the self-reliance of private Bitcoin holders that should not be violated by strategic Bitcoin reserves.
Lummis introduced the bill in July 2024, but it was not passed due to little support in Congress. The bill had to be introduced in this session to remain active.