Senator Lummis resubmits Bitcoin bill to allow U.S. to reserve more than 1 million bitcoins

PANews March 12th news, according to Cointelegraph, U.S. Senator Cynthia Lummis re-submits the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2025, which will allow the U.S. government to hold more than 1 million bitcoins. The bill was originally proposed in July 2024, requiring the U.S. government to purchase 200,000 bitcoins per year within five years, with funds derived from adjustments to existing funds from the Federal Reserve and Treasury Department. After this revision, the U.S. government can hold additional Bitcoin through legal means, including civil or criminal forfeiture, donation or transfer of federal agencies. In addition, BTC voluntarily deposited into strategic Bitcoin reserves will be deposited in separate accounts.

In addition, the new bill introduces a formal evaluation process for Bitcoin fork assets and empty investment products. The original bill requires that all forked assets must be deposited in the national Bitcoin reserve for at least five years and cannot be sold or disposed of without legal authorization. The revised bill allows the Finance Minister to evaluate and retain the most valuable fork assets based on market value after the mandatory holding period is over, while ensuring that the reserves continue to hold "dominant assets".