Senator Cynthia Lummis Bitcoin Bill Bags 2200 Co-Sponsor Requests

Highlights

Senator Cynthia Lummis recently revealed the BTC strategic reserve bill during the Nashville conference.
She aims to reduce the $35 trillion debt via this initiative.
The bill has registered over 2,200 co-sponsor requests within just 48 hours of publishing.

At the BTC Conference 2024 held in Nashville, Senator Cynthia Lummis of Wyoming, widely known as the “Bitcoin Senator,” announced a historic bill. Moreover, her proposed “Strategic Bitcoin Reserve” bill has already attracted substantial support, with over 2,200 letters sent to U.S. Senators requesting co-sponsorship within just 48 hours. In addition, the senator opened up on how a Trump administration could be a “game-changer” for the crypto industry.

Senator Cynthia Lummis On BTC Reserve

The bipartisan outreach for the bill saw Democrats receiving 1,333 letters, according to a post on X by Satoshi Action Fund founder Dennis Porter. Meanwhile, Republicans sent in 850 letters, and Independents 41, signaling a growing interest in BTC across the political spectrum.

Senator Lummis highlighted the urgency of establishing a strategic BTC reserve to boost the nation’s financial security. She underscored the nation’s precarious fiscal situation, noting that the U.S. is nearing $35 trillion in debt, with a debt-to-GDP ratio approaching 120%. “We can’t go on blindly just printing money 24/7 that has nothing to back it,” she warned in an interview with Bitcoin Magazine.

In addition, Senator Cynthia Lummis compared the proposed Bitcoin reserve to other strategic reserves. These included such as the Strategic Petroleum Reserve and the vast federal land holdings, which serve as stores of value.

Throughout the interview, Lummis emphasized the importance of bipartisan support for BTC-related legislation. She highlighted her collaborative efforts with Senator Kirsten Gillibrand (D-NY) to advance pro-Bitcoin initiatives. Reflecting on past bipartisan successes, she recounted an instance involving a technical accounting rule at the SEC.

The revocation of this rule, known as SAB 121, saw support from both sides of the aisle despite its niche nature. “The Democrats were surprised that a piece of legislation that technical and in the weeds was embraced by Democrats and Republicans alike,” Lummis noted.

Also Read: Just-In: Pro-Bitcoin Donald Trump Agrees To Debate Kamala Harris On This Date

How Will Trump Administration Alter Crypto Regulation In The U.S.?

The discussion also delved into the potential impact of a Trump presidency on Bitcoin. Senator Cynthia Lummis expressed optimism about Donald Trump‘s approach, citing his pro-business stance and innovative mindset. “President Trump is a pro-business innovator, and he is going to demand that his agency heads take their agencies in that direction,” she asserted.

Furthermore, Lummis anticipated significant changes in regulatory agencies under Trump’s leadership. These include the Federal Reserve, the Treasury, the SEC, and others. She criticized the current regulatory environment for its lack of clarity and its punitive approach.

“People want to comply with the law, but if you don’t know what the law is, you’re stabbing in the dark at trying to hit the compliance target,” she explained. Also, Senator Cynthia Lummis predicted that Trump would foster an environment conducive to innovation while ensuring consumer protection.

Moreover, Lummis underscored the growing acceptance of BTC among mainstream financial institutions and politicians. She pointed to notable figures like Larry Fink of BlackRock and Michael Saylor of MicroStrategy, who have integrated Bitcoin into their business models. “The naysayers are finally realizing this is for real; this is a legitimate asset class,” she stated.

She also highlighted the increasing political support for BTC, noting the presence of more U.S. senators at the conference. “It now has the durability and acceptance to be very Main Street,” Lummis asserted, In a personal reflection, Lummis described Bitcoin in two succinct phrases: “freedom money” and “digital gold.”

Also Read: Bitcoin & Crypto Cheques To Clear $35T US Debt, Donald Trump Says

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.