Sen. Lummis' new Bitcoin bill demands stricter purchasing plan and proposes using revalued gold profits to buy Bitcoin
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Sen. Lummis' new Bitcoin bill demands stricter purchasing plan and proposes using revalued gold profits to buy Bitcoin
According to Bitcoin Laws, U.S. Senator Cynthia Lummis has reintroduced the Bitcoin bill to the Senate after the 2024 version was stalled in committee. The new version retains the proposal to purchase one million bitcoins over five years but includes several key differences. The 2025 Bitcoin bill sets a stricter annual purchase target of exactly 200,000 bitcoins (compared to "up to" 200,000 in the 2024 version). The new version also strengthens holding requirements by removing previous provisions related to repaying federal debt instruments.
Navigating Web3 tides with focused insightsTechFlow news — On March 13, according to Bitcoin Laws, U.S. Senator Cynthia Lummis has resubmitted the Bitcoin bill to the Senate after the 2024 version was previously搁置 in committee. The new version maintains the proposal to purchase one million bitcoins over five years but contains several key differences from the prior version.
- The 2025 Bitcoin bill establishes a stricter annual purchase target of exactly 200,000 bitcoins (compared to "up to" 200,000 BTC in the 2024 version). The new version also strengthens holding requirements by removing the previous exception allowing bitcoin sales to repay federal debt instruments.
- The bill adds provisions for coordinating bitcoin purchases with the Exchange Stabilization Fund (ESF), which was not mentioned in the 2024 version. The ESF is a reserve fund under the U.S. Treasury Department holding approximately $39 billion in assets, and executive branch bitcoin acquisitions could potentially draw from this fund.
- Regarding gold revaluation, the new version explicitly states that gains from revaluing federal reserve gold must be used to purchase bitcoin, whereas the 2024 version only directed these proceeds into the general fund—a significant change.
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