Senator Cynthia Lummis (R-WY) has asserted that Bitcoin represents the sole viable remedy for the United States’ staggering $36 trillion debt. This declaration followed her promotion of the BITCOIN Act in a recent post on X.
Senator Cynthia Lummis Champions The BITCOIN Act
Lummis expressed her gratitude for President Trump’s backing of her Strategic Bitcoin Reserve initiative, emphasizing its potential to tackle the national debt and bolster America’s status as a frontrunner in financial innovation. In a video shared on social media, she articulated her support for this initiative.
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, 2025
Originally introduced by Lummis and Congressman Nick Begich (R-AK) at the Bitcoin for America Summit in March, the BITCOIN Act aims to establish a federal Bitcoin reserve, positioning the U.S. as a leader in the burgeoning field of digital asset technologies.
According to Lummis, widespread adoption of Bitcoin could be “transformative,” empowering individuals globally by giving them control over their finances. She stated, “As Bitcoin sees increased usage, it enhances the security and robustness of the entire financial system, making it more capable of meeting our needs worldwide. We ought to lead the way with this remarkable, new ledger-based asset in a digital format.”
The U.S. Moves Toward A Strategic Bitcoin Reserve
Advocates of a Strategic Bitcoin Reserve argue it would not only propel the U.S. into a technologically advanced stance on the global stage but also serve as a buffer against existing financial challenges.
During his campaign, Trump emphasized his intention to implement a crypto-friendly regulatory framework, asserting a commitment to position the U.S. as the “crypto capital of the world.” In March, he took significant steps by signing an executive order aimed at developing a Strategic Bitcoin Reserve and a digital asset stockpile.
“I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” Trump proclaimed. “Our country must be the leader in the field.”
As of Friday afternoon, Bitcoin was experiencing a modest increase in value, trading around $97,000.
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