Senator Cynthia Lummis Advocates for Bitcoin Reserve, Says States May Act First

Senator Cynthia Lummis believes a U.S. Bitcoin reserve could take longer than crypto supporters expect, suggesting that states might establish Bitcoin strategic reserves before the federal government. Speaking at a New York conference hosted by Anthony Pompliano, Lummis emphasized that states drive innovation and pointed to other nations already moving forward.

She highlighted that the United Arab Emirates has started acquiring Bitcoin and noted that sovereign wealth funds worldwide are advancing faster than the U.S., where bureaucracy slows progress. Lummis, a Republican from Wyoming, first introduced the idea of a national Bitcoin reserve alongside former President Donald Trump at a Nashville conference in July.

In January, Trump signed an executive order directing a study on the feasibility of a digital asset reserve, though it did not officially establish Bitcoin as a national reserve asset. As the U.S. government deliberates, Lummis suggests that individual states may take the lead in adopting Bitcoin reserves.

The growing global trend of sovereign Bitcoin investments underscores the increasing recognition of Bitcoin as a strategic asset. While federal action remains uncertain, state-level initiatives could accelerate Bitcoin’s role in government reserves.