American senator promotes the BITCOIN Act - Calls for 'Buy now, buy immediately'

Senator Cynthia Lummis is ramping up pressure to urge Congress to pass the BITCOIN Act – a bill aimed at establishing a strategic Bitcoin reserve to bolster the United States’ financial position and long-term economic competitiveness. On social media platform X, Lummis, Chair of the Senate Banking Subcommittee on Digital Assets, wrote:

Reasons for passing the BITCOIN Act and “Buy Now” :

1. The BITCOIN Act will help the US control public debt.
2. Only one country can own enough Bitcoin to serve as the foundation for the world’s reserve currency.

“Time waits for no one: Act now!” she emphasized.

Her post comes shortly after warnings by BlackRock CEO Larry Fink in his 2025 Annual Presidential Letter. Fink warned that the U.S. risks losing its status as a global reserve currency if public debt continues to rise uncontrollably. He also noted that the federal debt rate this year is expected to exceed $952 billion — higher than defense spending — and that by 2030, all federal revenue could be consumed by mandatory spending obligations and debt payments. While still advocating decentralized finance, Fink acknowledged that Bitcoin could become a more attractive option if confidence in the dollar continues to decline.

Lummis presented the BITCOIN Act to the U.S. Senate on March 11. This bill aims to legalize President Donald Trump’s order to establish the U.S. Strategic Bitcoin Reserve. “Bitcoin is not just a technological opportunity, but also an urgent requirement for the U.S. to maintain its financial leadership in the 21st century,” she stated while introducing the bill.

She explained that this bill will help the U.S. maintain its dominant position in the global financial sector while addressing the burden of long-term debt. The plan will allow the federal government to purchase up to 1 million BTC within a certain timeframe. At the same time, the Treasury will establish a decentralized Bitcoin storage network with strict physical and network security standards. The funding for implementation will not come from new taxes but will be raised by diversifying existing assets in the Federal Reserve System and the Treasury.

In addition, the bill also affirms the right of individuals to self-custody Bitcoin and stipulates that the Federal Reserve cannot infringe upon the financial freedom of the people.

You can view the BTC price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

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Thach Sanh

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