In a powerful address on Capitol Hill today, Senator Cynthia Lummis made her stance clear: the United States is out of timeâand out of traditional options. âThe BITCOIN Act is the only solution to our nationâs $36T debt,â she said, while mentioning she has President Donald Trumpâs support for her initiative. âIâm grateful for a forward-thinking president who not only recognizes this, but acts on it.âÂ
If enacted into law, the BITCOIN Act would see the U.S. purchase 200,000 bitcoin per year for five yearsâcreating a 1,000,000 BTC reserve held for at least two decades.Â
Lummis laid out three paths for America: collapse under a default, spiral into hyperinflation, or use Bitcoin and technology to climb out. Her money is on crypto. She believes Bitcoinâs fixed supply makes it capable of restoring long-term monetary discipline. âThe system is built on trust. If we donât pay back what we owe, that trust disappears,â she said. âWeâd hit something worse than the Great Depression.â
Inflation, she warned, will devastate working Americans if money printing continues. âWeâre talking Zimbabwe, Weimar Republic levels,â Lummis said. âEverything becomes unaffordable. Thatâs not a future I want Americans to face.âÂ
Lummis is offering a deflationary alternative. âTechnology boosts productivity and cuts costs. It gives us room to grow faster than our debt,â she explained, pointing to AI, robots, and crypto as the tools needed to turn the economy around. âTheyâre the only real weapons weâve got.â
The BITCOIN Act, first introduced last summer and reintroduced at the 2025 âBitcoin for Americaâ Summit, has seen growing bipartisan support in both the House and Senate.
Congressman Nick Begich is leading the charge in the House. His version of the bill mirrors Lummisâ Senate proposal and signals growing alignment between chambers on Bitcoin policy. âAmericans deserve a fiscal and monetary foundation built on assets that represent discipline, structure, and confidence,â he tweeted today. âBitcoin delivers on all three, and I am proud to lead this effort in the House with The BITCOIN Act.â
President Trump has already signed an executive order earlier this year creating a federal Bitcoin reserve, using BTC seized through forfeitures to establish an estimated 200,000 BTC stockpileâcosting taxpayers nothing. Executive Director Bo Hines confirmed the reserve will add to the reserve using âbudget neutral ways that donât cost the taxpayer a dime,â potentially including tariff revenue.
While Trumpâs executive order marks the U.S. as the worldâs largest sovereign Bitcoin holder, it could be overturned by future administrations. Thatâs why Lummis insists legislationânot just executive actionâis essential to locking in a long-term national Bitcoin strategy. Lummisâ BITCOIN Act would cement the program into law and ensure the country accumulates far more.
Asset manager VanEck estimates that if the U.S. follows this roadmap, the Bitcoin reserve could offset up to $21 trillion of national debt by 2049.
Lummis closed with a warning about the dollarâs fate. âIt didnât vanish. It just lost power,â she said, comparing it to the British pound. âBuy real assets or get left behind.â
