"Bitcoin Act" Bill Introduced in Both the Senate and House
- Don Vito
- Mar 11
- 1 min read
Senator Lummis reintroduces Bill that would see U.S. purchase 1 million BTC over 5 years
Wyoming Senator Cynthis Lummis announced that she is reintroducing "The Bitcoin Act" in the Senate. The bill has six co-sponsors and would add one million BTC to the U.S. Reserve over five years. You can watch her announcement below at today's "Bitcoin for America" Summit in Washington D.C.
Shortly after the Senator's announcement, U.S. Congressman Nick Begich announced that he would be sponsoring the same Bill in the House. There are multiple co-sponsors attached to this bill as well. You can watch the Congressman's announcement below.
So what does it all mean? Well frankly, at the moment it means jack shit. Both bills would need to gain a lot of support to pass. While it's nice to see Congress introducing legislation that furthers Trump's SBR, the Republicans could have to support this across the board.
It is likely? Probably not. Trump could probably levy the support, but this Bill contradicts his announcement last week of the Reserve not being funded by tax payer dollars. My guess is that it's dead in the water.
It's a nice novelty, and should it pass hold onto your ass, but right now it just doesn't move the needle. See you at the bottom.
Comments