Lummis Pushes Bitcoin Reserve Plan With Trump’s Backing
By: cryptosheadlines|2025/05/03 23:45:02
0
Share
Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Trump’s executive order created a 200,000 BTC federal reserve at no taxpayer cost.The BITCOIN Act proposes a 1 million BTC reserve locked for 20 years.VanEck projects the reserve could offset $21 trillion in debt by 2049.Senator Cynthia Lummis has renewed her push for the BITCOIN Act, saying the United States faces limited choices. Speaking on Capitol Hill, she stated the $36 trillion national debt requires a new approach. The BITCOIN Act is the only solution to our nation’s $36T debt. I’m grateful for a forward-thinking president who not only recognizes this, but acts on it. pic.twitter.com/NVWH6v2EcH— Senator Cynthia Lummis (@SenLummis) May 2, 2025According to her, the only viable route now includes a federal Bitcoin accumulation program. Lummis confirmed that former President Donald Trump supports the measure and has already taken steps to begin the reserve process.Trump Backs Bitcoin Reserve to Fight U.S. InflationTrump signed an executive order earlier this year to form a national Bitcoin reserve. This reserve reportedly includes over 200,000 BTC, collected from forfeiture cases, with no taxpayer cost involved. The executive order uses what officials call “budget neutral” strategies, possibly funded through tariffs, according to Executive Director Bo Hines. However, Lummis stressed that executive orders can be overturned by future leaders. She said legislation is required to secure a long-term plan.The BITCOIN Act proposes that the U.S. purchase 200,000 BTC per year for five years. These holdings would be locked for two decades, forming a 1,000,000 BTC reserve. Lummis explained that such a reserve could provide structure in monetary policy. She noted that confidence depends on the country’s ability to repay its debt. Without trust, she said, the system could collapse into a deeper crisis.Besides economic stability, Lummis pointed to Bitcoin’s fixed supply as a key factor. She warned that inflation would worsen if money printing continued. According to her, unchecked inflation could push the country toward hyperinflation levels. She referenced historical crises in Zimbabwe and the Weimar Republic, saying ordinary Americans would face unaffordable prices.BITCOIN Act Gains Bipartisan Support in U.S. CongressThe Senate proposal was originally introduced last year and reintroduced during the 2025 “Bitcoin for America” Summit. It has drawn support from members across party lines. In the House, Congressman Nick Begich has introduced a parallel version. His statement emphasized Bitcoin’s role in providing discipline and predictability in fiscal matters.Lummis also argued that emerging technologies such as artificial intelligence, robotics, and blockchain can drive economic recovery. She said these tools can improve productivity and reduce costs, which gives the economy space to grow. These changes, she said, could help counterbalance national debt.Data from VanEck suggested the Bitcoin reserve could offset up to $21 trillion of U.S. debt by 2049. Lummis concluded by comparing the U.S. dollar to the British pound’s decline in influence. She said national value must now be stored in real, limited-supply assets. Both chambers continue to review the BITCOIN Act, with discussions focused on securing long-term national stability through asset-based planning.Source link
You may also like

Who is the true winner of the "Tokenization" narrative?
Virtually everyone benefits, but the reason for the benefit, the timing, and the underlying logic are completely different.

Moss: The Era of AI-Traded by Anyone | Project Introduction
AI Trading Agent is rapidly growing its infrastructure.

Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
AI chips have become a strategic asset more sensitive than missiles

How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.

Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K
When the grocery shopping auntie on the subway, or Tony the hairdresser, start asking you about BTC, crypto, and cryptocurrency investments, selling immediately will be the only best option.

Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?
Imperial College London MetaGame: AI Agent × Web3 Landing Three Major Directions.

Huang Renxun's Latest Podcast Transcript: NVIDIA's Future, Embodied Intelligence and Agent Development, Soaring Demand for Inferencing, and AI's PR Crisis
The future of competition is not only about whose model is bigger, whose computing power is stronger, but also about who understands the industry better, who can more deeply integrate AI into real processes, and who can organize these capabilities into a set of executable, scalable systems
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Crypto_Trade shows how structured inputs and controlled adaptability can build a more stable and reliable AI crypto trading bot within the WEEX AI Trading Hackathon, highlighting a practical path toward scalable AI trading systems.

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition
When Bezos starts using AI to buy factories instead of building data centers, it shows that he believes the next wave of AI's value is not inside the box.

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer
Hardness is a protocol-level commitment to Ethereum core properties, including censorship resistance, privacy, security, and permissionlessness.

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1
The real enemy is no longer each other, but zero cost itself

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor
Bezos doesn't invest in a new model; he invests in a supply chain.

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.
No brand, no marketing, let developers vote with their feet in 8 days

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.
During a weekend of relentless volatility, while traditional financial markets were closed, another wave of investors was busy trading gold, oil, and silver on a blockchain platform.

Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?
If it's really that profitable, what's keeping $PUMP's price down?

Understanding x402 and MPP in One Article: The Two Paths of Agent Payments
x402 for in-protocol payments, MPP for off-chain payments

Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?
The project's core innovation areas include stablecoin payments, AI applications, prediction markets, and RWA tokenization.

It's not just the prediction market that profits from the Iraq War
Always maintaining the ambiguity of regulation with "offshore" may be the consensus of the perp DEX.
Who is the true winner of the "Tokenization" narrative?
Virtually everyone benefits, but the reason for the benefit, the timing, and the underlying logic are completely different.
Moss: The Era of AI-Traded by Anyone | Project Introduction
AI Trading Agent is rapidly growing its infrastructure.
Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
AI chips have become a strategic asset more sensitive than missiles
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.
Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K
When the grocery shopping auntie on the subway, or Tony the hairdresser, start asking you about BTC, crypto, and cryptocurrency investments, selling immediately will be the only best option.
Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?
Imperial College London MetaGame: AI Agent × Web3 Landing Three Major Directions.