“`html
In a compelling speech on Capitol Hill today, Senator Cynthia Lummis conveyed her position clearly: the United States is out of time—and out of conventional methods. “The BITCOIN Act is the sole remedy for our nation’s $36T debt,” she stated, while noting she has President Donald Trump’s backing for her initiative. “I appreciate a progressive president who not only acknowledges this but takes action.”
If passed into law, the BITCOIN Act would mandate the U.S. to acquire 200,000 bitcoin annually for five years—establishing a 1,000,000 BTC reserve maintained for no less than two decades.
Lummis outlined three options for America: succumb to a default, plunge into hyperinflation, or leverage Bitcoin and innovation to recover. Her wager is on cryptocurrency. She asserts Bitcoin’s limited supply empowers it to restore enduring monetary discipline. “The system relies on faith. If we fail to repay what we owe, that faith erodes,” she indicated. “We’d experience something worse than the Great Depression.”
Inflation, she cautioned, will ravage working Americans if monetary expansion persists. “We’re talking Zimbabwe, Weimar Republic levels,” Lummis expressed. “Everything becomes unaffordable. That’s not a future I wish for Americans.”
Lummis is proposing a deflationary substitute. “Technology enhances productivity and reduces expenses. It provides us space to expand more rapidly than our debt,” she articulated, highlighting AI, robots, and cryptocurrency as the essential tools to revitalize the economy. “They’re the only genuine instruments we possess.”
The BITCOIN Act, initially presented last summer and reintroduced at the 2025 “Bitcoin for America” Summit, has garnered increasing bipartisan support in both chambers of Congress.
Congressman Nick Begich is spearheading the initiative in the House. His version of the legislation parallels Lummis’ Senate proposal and indicates growing consensus between chambers on Bitcoin policy. “Americans deserve a financial and monetary framework built on assets that embody discipline, structure, and confidence,” he tweeted today. “Bitcoin fulfills all three, and I am honored to lead this initiative in the House with The BITCOIN Act.”
President Trump has already enacted an executive order earlier this year to establish a federal Bitcoin reserve, utilizing BTC obtained through forfeitures to create an estimated 200,000 BTC stockpile—costing taxpayers nothing. Executive Director Bo Hines confirmed the reserve will be expanded using “budget neutral methods that don’t impose a cost on taxpayers,” which may include tariff revenue.
While Trump’s executive order positions the U.S. as the world’s largest sovereign Bitcoin holder, it may be rescinded by future administrations. This is why Lummis emphasizes that legislation—not just executive measures—is vital to securing a long-term national Bitcoin strategy. Lummis’ BITCOIN Act would enshrine the program into law and guarantee the country amasses significantly more.
Asset manager VanEck forecasts that if the U.S. follows this blueprint, the Bitcoin reserve could offset as much as $21 trillion of national debt by 2049.
Lummis concluded with a caution regarding the dollar’s destiny. “It didn’t disappear. It merely lost its influence,” she remarked, drawing a comparison to the British pound. “Acquire real assets or risk being left behind.”
Source link
“`
