Republican

Donald Trump

Reserve

Senator Cynthia Lummis reaffirmed plans to create a strategic Bitcoin Reserve in the U.S. just hours after Donald Trump won the presidential election. 
Congressional progress on a national strategic Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) reserve could accelerate as The Associated Press, Fox News, and NBC declared Republican candidate Donald Trump the winner of the presidential race. Lummis’ Nov. 6 tweet reminded the public of plans to position America’s $12 billion Bitcoin stockpile as a reserve asset and potential solution to the nation’s rising debt crisis. 
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The Senator initially revealed her BTC plans at the July Bitcoin 2024 conference in Nashville. Trump announced his intention to <a href="https://crypto.news/why-is-donald-trump-calling-on-the-government-not-to-sell-bitcoin/" target="_blank">shutter</a> state-backed Bitcoin selling at the same event, receiving praise from crypto supporters.&nbsp; 
Following the gathering, Lummis unveiled official documents for a Strategic Bitcoin Reserve and submitted the proposal for consideration. Thousands of U.S. citizens <a rel="" href="https://crypto.news/bitcoin-bill-gains-support-thousands-push-us-senators-to-back-it/">signed</a> letters and petitions supporting the idea shortly after. 
Republican control of Congress could further push such a bill toward formal legislation. Some 247 pro-crypto candidates won House of Representative seats, according to <a href="https://crypto.news/pro-crypto-candidates-dominate-us-house-senate-amid-bull-run/" target="_blank">Stand With Crypto</a>, with several other spots in the Senate up for grabs. 
If Trump follows through on his crypto promises and Republicans achieve a legislative trifecta, the U.S. could become the first major world power to recognize Bitcoin as a national reserve asset. As of the time of publication, the U.S. was the largest sovereign owner of Bitcoin, holding 203,239 tokens, according to Arkham. 
 Read more: <a rel="" href="https://crypto.news/the-intersection-of-trumps-promises-and-bitcoins-250k/"> Feature The intersection of Trump’s promises and Bitcoin’s $250,000 forecast </a>

Senator Lummis: U.S. is ‘going to build’ a strategic BTC reserve

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