Senator Lummis Reintroduces Bitcoin Act to Secure US Future as Michael Saylor Projects $106T Earnings from BTC

Wyoming Senator Cynthia Lummis has disclosed her plans to reintroduce the "BITCOIN Act" to secure America's financial future. Lummis confirmed this development at an ongoing invitation-only forum by the Bitcoin Policy Institute, themed "Bitcoin for America." During her speech, Senator Lummis expressed excitement, noting that she would reintroduce the Bitcoin bill today. She disclosed that the refreshed bill now has several additional co-sponsors compared to before, amid growing interest in the proposal. Details of the Bitcoin Act Notably, the original bill, introduced in July 2024, proposed the creation of a U.S. strategic Bitcoin reserve to strengthen the dollar and reduce the national debt. The legislation aims to establish secure Bitcoin vaults under the Treasury Department, with top-tier cybersecurity. It proposed implementing a 1-million Bitcoin purchase program to acquire about 5% of the total Bitcoin supply. The bill also sought to fund the program through existing Federal Reserve and Treasury resources, such as gold. Moreover, the bill aims to protect individual Bitcoin holders' self-custody rights and financial freedoms. https://twitter.com/SenLummis/status/1899459877480579344 For context, U.S. President Donald Trump has already signed an executive order to establish a Bitcoin reserve. Trump's order focused on creating a reserve with existing BTC tokens the U.S. already holds, prohibiting periodic sales. It also hinted at further acquisitions but failed to present a definite strategy for this. Meanwhile, some industry pundits have suggested that Trump's Bitcoin reserve order would only stand for as long as he remains president since the establishment was not via the legislature. In other words, the effort risks being unwound by a new president. However, they propose that the move could become permanent should Senator Lummis's Bitcoin Act pass before the end of Trump's tenure. How America Could Earn $106 Trillion From Bitcoin During the Bitcoin forum, MicroStrategy Chairman Michael Saylor commented on how the U.S. government could benefit from the proposed Strategic Bitcoin Reserve. He cited potential earnings of $106 trillion if the country consistently acquired Bitcoin over time. Saylor pointed out that the U.S. could start by following the guidelines laid out in the Bitcoin Act, which suggests acquiring 1 million Bitcoin over a five-year period in a disciplined and transparent manner. He emphasized that even holding 200,000 Bitcoin for the next 20 years could result in a value of $3 trillion, with no active trading involved. According to Saylor, doing nothing—by avoiding poor decisions like selling or trading Bitcoin—could prove to be a profitable strategy. Meanwhile, he argued that the 1 million BTC the senator proposed could be worth $16 trillion. Furthermore, he explained that if the U.S. were to adopt a more aggressive strategy, such as the "triple max" plan, it could acquire up to 4 million Bitcoin. He projected it would result in a $73 trillion benefit. Saylor also urged the U.S. to be a superpower in acquiring Bitcoin, consistently acquiring Bitcoin daily until 2035, when 99% of the supply would be mined. In this strategy, it could accumulate 5.5 million BTC tokens, which he projected would be worth $106 trillion. Saylor stressed that, in the long term, this strategy could neutralize the national debt and establish a significant global superpower position for the U.S.