Following former President Donald Trump’s 2024 election victory, Senator Cynthia Lummis hinted at an ambitious new bill on November 6 that could reshape U.S. financial strategy—a national Bitcoin Strategic Reserve. The proposal aligns closely with Trump’s crypto-focused platform, which prioritizes a supportive environment for digital assets.
A Strategic Bitcoin Reserve to Counter Inflation
Originally introduced on July 31, Senator Lummis’s Bitcoin Strategic Reserve bill aims to establish a decentralized Bitcoin reserve for the U.S. Treasury. This initiative proposes securing up to 1 million BTC, or roughly 5% of Bitcoin’s total supply, through government-controlled, secure vaults across a decentralized network. The acquisition would be financed using existing Treasury funds, similar to the U.S. strategy for gold reserves.
Lummis emphasized that creating this reserve would be a powerful tool to tackle inflation and national debt, providing stability to an economy facing growing fiscal challenges. “We must make bold moves to protect American families from rising costs and financial uncertainty,” she noted. In addition to the reserve, the bill supports the right to self-custody, ensuring Americans’ control over their digital assets.
Trump’s Vision: The U.S. as the “Crypto Capital”
Trump has consistently highlighted Bitcoin as integral to America’s economic future, vowing to create a pro-crypto landscape that can elevate the U.S. to the status of “crypto capital of the planet.” The potential for a national Bitcoin reserve aligns with his goals, as he sees cryptocurrency as an important hedge against dollar instability and a foundation for economic resilience.
Trump’s Win Energizes the Crypto Market
The proposal has generated both optimism and caution. Proponents, including Lummis, see Bitcoin as a stable store of value amid inflation and currency fluctuation. Meanwhile, Trump’s crypto-positive stance has driven Bitcoin’s recent rally, with the digital asset hitting new highs of $75,000 on November 6 following his electoral win.
Trump’s victory speech included promises of regulatory reforms, support for cryptocurrency mining, and a commitment to appoint an SEC chair favoring crypto—possibly SEC Commissioner Hester Peirce. He has pledged to reverse restrictive policies, reinforce the right to self-custody, and set the U.S. on a path toward digital currency leadership.
With Trump securing 277 electoral votes and the popular vote at nearly 71 million, the crypto sector is eyeing a significant “golden age.” Pro-crypto candidates have gained ground in Congress as well, with 247 House and 15 Senate seats won. Following Trump’s victory, Bitcoin surged 7%, trading at $73,580, and the global crypto market cap reached a robust $2.6 trillion.
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