Lummis

The Bitcoin Reserve Bill is making headlines once again. At the Bitcoin Conference in Las Vegas, Senator Cynthia Lummis confirmed that lawmakers will soon turn their attention to this groundbreaking legislation—right after the stablecoin-focused GENIUS Act wraps up.

Lummis: Bitcoin Reserve Bill Is Next on the Agenda

Speaking on stage, Senator Lummis revealed that the U.S. Senate is preparing to debate the Bitcoin Reserve Bill. The bill, introduced by Congressman Nick Begich on March 11, 2025, proposes that the U.S. Treasury acquire up to 1 million Bitcoin over five years. These holdings would be secured in a government-backed Strategic Bitcoin Reserve.

If passed, this bill could shift the U.S. perspective on Bitcoin—from viewing it as a speculative asset to treating it as a strategic reserve. This move aligns with a recent executive order by President Trump, who directed the creation of a federal Bitcoin reserve.

🚨NEW: On stage at @TheBitcoinConf, @SenLummis said she believes the U.S. government currently holds around 200,000 Bitcoins, but she’s not certain because the government has apparently ‘classified’ the information following a mandated audit from the White House. She says she has… pic.twitter.com/8bxLyW9wQo
— Eleanor Terrett (@EleanorTerrett) May 27, 2025

Adding intrigue, journalist Eleanor Terrett reported that the government may already hold around 200,000 BTC. However, this number remains unconfirmed due to a classified audit ordered by the White House. Lummis mentioned she’s been offered a private briefing to clarify the situation.

Stablecoin Regulation Making Progress

While attention builds around Bitcoin, the Senate has already taken big steps toward regulating stablecoins. The GENIUS Act passed a cloture vote on May 21 with a 66-32 margin, moving it to the amendment phase.

Introduced by Senator Bill Hagerty, the GENIUS Act seeks to provide a clear legal framework for stablecoin issuers. It aims to reduce uncertainty while supporting innovation in digital finance. However, critics like economist Peter Schiff warn that stablecoins may divert capital from traditional financial markets and increase crypto speculation.

Bitcoin Conference Aims for World Record

The Bitcoin Conference in Las Vegas isn’t just about policy updates. Organizers announced plans to break a Guinness World Record for the most Bitcoin transactions at a single event.

RIZZO & MARTY ONCE AGAIN CALLING YOU TO GET YOUR BTC WALLETS READY‼️

TOMORROW WE’RE ATTEMPTING TO SET A GUINNESS WORLD RECORD FOR MOST #BITCOIN TRANSACTIONS AT A SINGLE EVENT 🚀 pic.twitter.com/ZoeK78XaBL
— The Bitcoin Conference (@TheBitcoinConf) May 27, 2025

Speakers like Rizzo and Marty urged attendees to get their wallets ready. The move is generating excitement, with many believing the event could trigger a short-term price surge in BTC.

As of now, Bitcoin is trading at $110,220, up 0.71% in the last 24 hours, according to CoinMarketCap.

Last night, President Trump signed the “Digital Assets” executive order (EO), leaving Bitcoin enthusiasts disappointed. Many had hoped for the long-awaited Strategic Bitcoin Reserve (SBR), but the EO did not even mention it.

What the Executive Order Says

Instead of establishing a Bitcoin reserve, the EO states:

“The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”

In simpler terms, the EO focuses on studying digital assets, not securing Bitcoin as a national reserve. Those expecting a major Bitcoin adoption step were left wanting more.

A Silver Lining: The Ban on CBDCs

Despite the lack of Bitcoin-related news, the EO does include a win. It officially bans Central Bank Digital Currencies (CBDCs), which many believe is a step toward a more Bitcoin-friendly financial future.

The Importance of Legislation Over Executive Orders

Senator Cynthia Lummis, a strong Bitcoin advocate, remains optimistic. She reminded supporters that her Strategic Bitcoin Reserve Bill is a “BIG lift,” and for good reason:

Executive Orders Are Temporary: They can be reversed by future administrations.
Legislation Provides Stability: Once passed through Congress, laws are much harder to repeal and provide long-term certainty.

Lummis emphasized this in a recent statement:

“Even if the EO had included a Strategic Bitcoin Reserve, it could be undone by the next administration. My bill ensures a 20-year minimum HODL period and addresses national debt, but it must go through Congress.”

She urges patience, reminding supporters that achieving lasting change requires a steady, long-term approach.

Why a Congressional Bitcoin Reserve Is Better

Although the EO offers a short-term boost for crypto investors, the real fight for Bitcoin’s future lies in legislation. A congressionally approved Strategic Bitcoin Reserve will provide stability and legitimacy far beyond what an executive order can achieve.

Bitcoin has always thrived under pressure, whether facing bans, restrictions, or vague policies like the “national digital asset stockpile.” States are already stepping up, introducing Bitcoin-specific reserve legislation, signaling strong grassroots support.

Global Interest in Bitcoin Is Growing

On a global scale, countries are watching closely. Russian President Vladimir Putin recently stated, “No one can control Bitcoin,” highlighting its unique value proposition over other digital assets.

As world leaders observe, it’s clear that Bitcoin’s dominance is growing. Unlike speculative digital assets, Bitcoin offers a proven and resilient monetary alternative.

Stay Patient: The Future Is Bright

Bitcoin’s strength lies in its ability to withstand challenges. Each setback reinforces its value, exposing weaknesses in fiat currencies and bolstering Bitcoin’s narrative.

While the EO may not have delivered the anticipated results, it serves as a stepping stone for broader adoption. The road ahead requires persistence and patience, but Bitcoin’s long-term prospects remain strong.