Bitcoin Magazine
Senator Lummis Says Trump Supports Her BITCOIN Act That Could Erase U.S. Debt
In an effective address on Capitol Hill today, Senator Cynthia Lummis made her position clear: the United States runs out time—and out of standard choices. “The BITCOIN Act is the only solution to our nation’s $36T debt,” she stated, while discussing she has President Donald Trump’s assistance for her effort. “I’m grateful for a forward-thinking president who not only recognizes this, but acts on it.”
If enacted into law, the BITCOIN Act would see the U.S. purchase 200,000 bitcoin annually for 5 years—producing a 1,000,000 BTC reserve held for a minimum of twenty years.
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Senator Cynthia Lummis says President Trump supports her Strategic Bitcoin Reserve expense to purchase 1,000,000 BTC
— Bitcoin Magazine (@BitcoinMagazine) May 2, 2025
Lummis set out 3 courses for America: collapse under a default, spiral into run-away inflation, or usage Bitcoin and innovation to climb up out. Her cash is on crypto. She thinks Bitcoin’s repaired supply makes it efficient in bring back long-lasting financial discipline. “The system is built on trust. If we don’t pay back what we owe, that trust disappears,” she stated. “We’d hit something worse than the Great Depression.”
Inflation, she cautioned, will ravage working Americans if cash printing continues. “We’re talking Zimbabwe, Weimar Republic levels,” Lummis stated. “Everything becomes unaffordable. That’s not a future I want Americans to face.”
Lummis is providing a deflationary option. “Technology boosts productivity and cuts costs. It gives us room to grow faster than our debt,” she described, indicating AI, robotics, and crypto as the tools required to turn the economy around. “They’re the only real weapons we’ve got.”
The BITCOIN Act, initially presented last summer season and reestablished at the 2025 “Bitcoin for America” Summit, has actually seen growing bipartisan assistance in both the House and Senate.
Congressman Nick Begich is leading the charge in the House. His variation of the expense mirrors Lummis’ Senate proposition and signals growing positioning in between chambers on Bitcoin policy. “Americans deserve a fiscal and monetary foundation built on assets that represent discipline, structure, and confidence,” he tweeted today. “Bitcoin delivers on all three, and I am proud to lead this effort in the House with The BITCOIN Act.”
President Trump has actually currently signed an executive order earlier this year producing a federal Bitcoin reserve, utilizing BTC took through forfeits to develop an approximated 200,000 BTC stockpile—costing taxpayers absolutely nothing. Executive Director Bo Hines verified the reserve will contribute to the reserve utilizing “budget neutral ways that don’t cost the taxpayer a dime,” possibly consisting of tariff income.
While Trump’s executive order marks the U.S. as the world’s biggest sovereign Bitcoin holder, it could be reversed by future administrations. That’s why Lummis firmly insists legislation—not simply executive action—is important to securing a long-lasting nationwide Bitcoin technique. Lummis’ BITCOIN Act would seal the program into law and make sure the nation collects even more.
Asset supervisor VanEck approximates that if the U.S. follows this roadmap, the Bitcoin reserve could balance out as much as $21 trillion of nationwide debt by 2049.
Lummis closed with an alerting about the dollar’s fate. “It didn’t vanish. It just lost power,” she stated, comparing it to the British pound. “Buy real assets or get left behind.”
This post Senator Lummis Says Trump Supports Her BITCOIN Act That Could Erase U.S. Debt initially appeared on Bitcoin Magazine and is composed by Jenna Montgomery.
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