Senator Lummis Says U.S. Bitcoin Reserve Funding Could Begin Soon

Key Takeaways: 

• Legislative complexity and political caution are delaying the Bitcoin reserve.
• The Bitcoin Act proposes a five-year plan to acquire one million BTC.
• Funding through gold revaluation remains a politically sensitive idea.

On October 6, U.S. Senator Cynthia Lummis indicated that funding for a proposed U.S. Strategic Bitcoin Reserve could be authorized at any time. However, she clarified that federal caution and the intricate legislative process continue to delay concrete progress.

The Legislative Push for a Bitcoin Reserve

In a social media post, Senator Lummis affirmed that while legislative challenges persist, the acquisition of funds for a Bitcoin reserve is a possibility. 

This statement was a response to a video shared by Jeff Park, Chief Investment Officer at ProCap BTC, who discussed the idea with Bitcoin advocate Anthony Pompliano.

This is a fabulous articulation of why the SBR and passing the BITCOIN Act makes so much sense.

Legislating is a slog and we continue to work toward passage but, thanks to President Trump, the acquisition of funds for an SBR can start anytime. ⤵️ https://t.co/gUkeZBPQr4

— Cynthia Lummis 🦬 (@CynthiaMLummis) October 6, 2025

In the video, Park explored a bold idea. He imagined what might happen if the U.S. government decided to use its $1 trillion in unrealized, or “paper,” gains from gold to reinvest into Bitcoin. 

Unrealized gains represent the increased value of an asset, like gold, that has appreciated in market price but has not been sold. Park contended that, given the national debt of nearly $37.9 trillion, this strategy would represent a minor risk with a potentially significant reward, especially if Bitcoin's value continues to appreciate over the long term.

Senator Lummis praised Park’s analysis. She said it perfectly captured why both the Bitcoin reserve and the Bitcoin Act make sense for America’s financial future.

The idea of a Bitcoin reserve isn’t new. On March 6, 2025, President Trump signed an executive order to create a U.S. Strategic Bitcoin Reserve. 

Days later, Senator Lummis reintroduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act at the 119th Congress.

Proud to re-introduce the BITCOIN Act. Let’s secure America’s financial future.pic.twitter.com/jJFmMopP7h

— Senator Cynthia Lummis (@SenLummis) March 11, 2025

The Bitcoin Act proposes that the U.S. government acquire 200,000 BTC every year over five years, totalling one million BTC. The funds would come from diversified assets within the Federal Reserve System and the Treasury Department. 

Passage of the Act would establish a clear, Congressionally-mandated strategy for integrating Bitcoin into the nation’s financial reserves.

The Funding Dilemma: A Major Hurdle

Despite legislative proposals, fundamental questions about funding and operations remain unanswered. 

The Bitcoin Act plans to acquire 200,000 BTC each year for five years. Yet, the exact mechanism for raising that capital is still uncertain.

In August, U.S. Treasury Secretary Scott Bessent explained that the government hopes to grow the Bitcoin reserve through “budget-neutral” strategies. That means expanding it without adding new costs to taxpayers. 

Senator Lummis supported the approach, saying it is practical and responsible. However, she also acknowledged that America’s $37 trillion debt cannot be solved with Bitcoin alone.

.@SecScottBessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR.

America needs the BITCOIN Act.

— Senator Cynthia Lummis (@SenLummis) August 14, 2025

To strengthen funding, Senator Lummis suggested revaluing the nation’s gold reserves at today’s market prices and transferring part of that increased value into the Bitcoin reserve. 

But the concept remains complex and politically sensitive.

Last month, lawmakers introduced a House appropriations bill. It directs the US Treasury Department to study how Bitcoin assets would be stored, secured, and managed at a national scale. This back-and-forth highlights the uncertainty that still surrounds the Bitcoin reserve.