Senator Cynthia Lummis Pushes for Bitcoin Act to Strengthen U.S. Financial Position
In a bold move aimed at securing the United States' position in the global economy, Senator Cynthia Lummis is urging Congress to pass the BITCOIN Act, a legislative effort that seeks to establish a strategic Bitcoin reserve.
This Bitcoin bill is presented as a way to fortify the U.S. financial system and ensure the country remains competitive in the rapidly evolving digital economy.
A Strategic Move for America’s Financial Future
The BITCOIN Act was introduced by Lummis on March 11th, with a clear goal in mind: to position BTC as a cornerstone of the United States’ financial strategy. The legislation aims to create a national reserve of Bitcoin, which would help reduce the nation’s growing debt burden while also enhancing its influence in the global digital economy.
Reasons to pass the BITCOIN Act and buy, baby, buy:
1) The Bitcoin Act will help America get our debt under control;
2) Only one nation will have the juice to own enough Bitcoin to underpin it’s currency as the world’s reserve $.The clock and next block are ticking: Let’s Go! https://t.co/9JxaTLbGeL
— Cynthia Lummis 🦬 (@CynthiaMLummis) March 31, 2025
Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, emphasized that as the U.S. faces mounting debt, now is the time to “buy, baby, buy” BTC. She argues that only one nation can amass enough Bitcoin to back its currency as the world’s reserve currency, and she believes the U.S. should take proactive steps to secure that role.
In a social media post on X (formerly Twitter), Senator Lummis outlined two key reasons for the passage of the Bitcoin Act: first, it would help reduce America’s national debt, and second, it would ensure the U.S. remains competitive in the global financial system by embracing the digital asset that is shaping the future of money.
“The clock and next block are ticking. Let’s Go!” Lummis tweeted, urging Americans to increase their Bitcoin holdings in response to the growing financial challenges facing the nation.
Larry Fink’s Warning: U.S. Dollar’s Reserve Currency Status Under Threat
Lummis’s call for action comes at a critical moment, as Larry Fink, the CEO of BlackRock, recently raised concerns about the U.S. dollar’s future. In his 2025 Annual Chairman’s Letter, Fink warned that soaring federal debt levelscould ultimately lead to the U.S. losing its reserve currency status. He highlighted that interest payments on the federal debt are expected to exceed $952 billion this year, surpassing defense spending. By 2030, Fink predicts that mandatory outlays and debt servicing could consume all federal revenue.
While Fink remains optimistic about the potential of decentralized finance (DeFi), he acknowledged that if confidence in the U.S. dollar continues to erode, Bitcoin could emerge as a more attractive alternative for both individuals and institutions looking for a store of value outside the traditional financial system.
Bitcoin as a National Imperative
Lummis’s support for the Bitcoin Act is rooted in her belief that Bitcoin is not just a technological opportunity, but a national imperative for maintaining America’s financial leadership in the 21st century. By building a strategic reserve of Bitcoin, the U.S. could potentially bolster its economic security and ensure its continued dominance in global finance.
The Bitcoin Act is seen as a bold step toward addressing the long-term debt burden while simultaneously positioning the United States as a leader in the digital asset space. As the world increasingly turns toward digital currencies, Lummis believes it is crucial for the U.S. to embrace this shift and leverage Bitcoin to strengthen its economic foundation.
The U.S. and Global Financial Shifts
The Bitcoin Act comes amid growing global interest in BTC and other digital assets as hedges against inflation and the potential erosion of fiat currencies. Countries like El Salvador have already made headlines by adopting Bitcoin as legal tender, while South Carolina is considering creating a state-backed BTC reserve to protect state assets from inflation.
With more institutions and governments turning their attention to BTC potential, the U.S. stands at a crossroads. While Lummis’s bill seeks to position the nation as a leader in the digital currency space, broader discussions on BTC role in the global financial system are likely to intensify. The success of the Bitcoin Act could have profound implications, not only for the U.S. economy but also for the future of money and finance worldwide.
Looking Ahead: Will the Bitcoin Act Pass?
As the debate over the future of the U.S. dollar and the role of BTC in global finance heats up, Senator Cynthia Lummis remains steadfast in her push for the Bitcoin Act. With concerns about the growing debt levels and the future of the U.S. dollar, it remains to be seen whether Congress will take action on the bill. However, with increasing support from both financial experts and lawmakers, the legislation could be a significant step toward a new chapter in U.S. financial policy—one that recognizes Bitcoin’s growing importance in the global economy.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a "detective-like" mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
