Sen. Cynthia Lummis says a Strategic Bitcoin Reserve can help tackle the US’ swelling debt load, calling it the only path that meaningfully offsets the burden.
She praised President Trump and his team for embracing the idea and said she is eager to see it through to the finish line. In remarks this week, Lummis said she believes the reserve would grow in value over time and act as a balance sheet counterweight.
She said Treasury Secretary Scott Bessent and White House staff are working through those details and that she welcomes their support for a strategic reserve built around Bitcoin. The senator has signaled urgency. Last month, she said the buying framework for a reserve could begin at any time and credited President Trump for creating the conditions to move quickly. She described the legislative process as slow, but said the funding mechanism does not have to wait.
In a recent Bloomberg interview, Lummis said officials are exploring ways to establish a reserve without relying solely on gold revaluation.
That base has since grown substantially. Following the record-breaking forfeiture of nearly 130,000 BTC tied to criminal cases, US Bitcoin reserves have climbed to over $34b at current prices, giving the government one of the largest known sovereign holdings globally.
Questions remain about financing. Lummis has not outlined a comprehensive plan for how the government would capitalize the reserve. However, the administration’s March fact sheet said the reserve would start with Bitcoin already controlled by the Treasury through criminal or civil forfeitures.
