Key Takeaways:
The companion bill seeks to formalize Bitcoin as a strategic, long‑term reserve asset in the national financial framework. Lawmakers look to bolster economic independence by integrating digital assets into government holdings. The proposal mandates secure, decentralized storage and enshrines permanent, not temporary, asset management. It also emphasizes protecting individual self‑custody rights while driving innovation in fiscal policy.Congressman Nick Begich (R-AK) introduced companion legislation to Senator Cynthia Lummis’ BITCOIN Act in the U.S. House of Representatives on Tuesday, March 11, at the Bitcoin Policy Institute’s Bitcoin For America forum.
Cynthia Lummis, Nick Begich Re-introduce BITCOIN Act
Speaking at the March 11 event, Begich said that he would introduce same-day legislation that would see the United States develop a strategic bitcoin reserve.
Representatives Addison McDowell (R-NC), Pat Harrigan (R-NC), Michael Rulli (R-OH), Troy Nehls (R-TX), Dave Taylor (R-OH), and Mike Collins (R-GA) are co-sponsoring the bill.
“This legislative initiative aims to ensure the United States maintains financial independence and leadership in the global digital economy,” Begich said.
“This bill recognizes bitcoin’s potential to complement our gold reserves, fortify national security, and provide economic stability in an increasingly volatile financial world,” he added.
What Does The BITCOIN Act Entail?
Begich’s announcement comes the same day that Lummis unveiled she would reintroduce the BITCOIN Act after her initial proposal in July 2024.
If passed, the bill would establish a program to purchase 1 million Bitcoin units—representing 5% of the total Bitcoin supply—create a decentralized network of secure Bitcoin vaults for government holdings, and affirm the self-custody rights of private Bitcoin holders.
Senators Marsha Blackburn (R-TN), Bernie Moreno (R-OH), Roger Marshall (R-KS), Jim Justice (R-WV), and Tommy Tuberville (R-AL) have signed on as co-sponsors for the Senate version of the legislation.
“Bitcoin is not simply a technological opportunity, but a national imperative for America’s continued financial leadership in the 21st century,” Lummis said in a statement.
“Together, we are not just adapting to the future—we are actively shaping it, writing the next chapter in America’s proud history of financial innovation and securing lasting prosperity for all our citizens,” she added.
As lawmakers like Begich and Lummis push for the integration of Bitcoin into America’s financial framework, important questions emerge: How will such an unprecedented reserve affect global financial dynamics, and will other nations follow suit?
The BITCOIN Act signals a major shift—not only in how the U.S. views digital assets but also how it approaches economic sovereignty in an era defined by technological innovation.
Only time will tell if this move cements America’s position in the evolving digital economy or sets the stage for intense debate about government’s role in cryptocurrency.
Frequently Asked Questions (FAQs)
Integrating Bitcoin into national reserves aims to diversify government assets and provide an inflation hedge, reinforcing fiscal stability while significantly enhancing the dollar’s global standing.
Risks center on Bitcoin’s volatility and shifting policies that may undermine long‑term reserve strategies. Robust asset management will require strict oversight and adaptable regulations to counter market moves.
Unlike past executive orders, the bill creates a permanent legal structure for Bitcoin acquisition and storage. It enshrines long‑term holding with decentralized vaults, marking a shift from temporary measures.
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