The people's voice of reason
The people's voice of reason
Senator Tommy Tuberville speaking to Fox News hosts
March 11, 2025 – WASHINGTON, D.C. – U.S. Senators Tommy Tuberville (R-Alabama) and Cynthia Lummis (R-Wyoming) in introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the U.S. Senate. The BITCOIN Act establishes a Strategic Bitcoin Reserve to serve as an additional store of value to bolster America's balance sheet and ensure the transparent management of Bitcoin holdings of the federal government. This legislation would codify President Donald J. Trump's Executive Order on cryptocurrency into law.
"Like President Trump, Bitcoin has shaken up the status quo in Washington D.C. and is completely revolutionizing the way Americans invest in their futures," said Senator Tuberville. "Creating a Strategic Bitcoin Reserve is an important step in making sure the United States remains the strongest economy in the world. There's no reason why we shouldn't use Bitcoin to pay down our national debt. I am proud to join my colleagues in sponsoring this important bill, which will help President Trump usher in the Golden Age of America."
"Today, I am proud to reintroduce landmark legislation that will codify President Trump's bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation's economic foundation for generations to come," said Senator Lummis. "Bitcoin is not simply a technological opportunity, but a national imperative for America's continued financial leadership in the 21st century. By transforming the president's visionary executive action into enduring law, we can ensure that our nation will harness the full potential of digital innovation to address our national debt while maintaining our competitive edge in the global economy. Together, we are not just adapting to the future - we are actively shaping it, writing the next chapter in America's proud history of financial innovation and securing lasting prosperity for all our citizens."
Sens. Tuberville and Lummis were joined by Sens. Marsha Blackburn (R-Tennessee), Jim Justice (R-West Virginia), Roger Marshall (R-Kansas), and Bernie Moreno (R-Ohio) in introducing the legislation.
Congressman Nick Begich (R-Alaska) led the effort in the U.S. House of Representatives.
Creating a bitcoin reserve for the U.S. has been an initiative championed by President Trump.
On March 7, President Trump spoke to reporters about his bitcoin policy.
"Last year, I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet. And we're taking historic action to deliver on that promise," President Trump said. "As you know around the table, yesterday, I signed an executive order officially creating our Strategic Bitcoin Reserve, and this will be a virtual Fort Knox for digital gold to be housed within the United States Treasury. Right? That's a big thing, Scott. (Applause.) That's good. The federal government is already among the largest holders of Bitcoin, as you know - really one of the largest holders in the world, with as many as 200,000 Bitcoin obtained via civil law and various other forms of law and including enforcement actions. These existing holdings will form the foundation of the new reserve. Unfortunately, in recent years, the U.S. government has foolishly sold tens of thousands of additional Bitcoin that were worth billions and billions of dollars had they not sold them. But they did sell them, mostly during the Biden administration, and not a good thing to have done."
"From this day on, America will follow the rule that every Bitcoin knows very well, never sell your Bitcoin," said Trump. "That's a little phrase that they have. I don't know if that's right or not. Who the hell knows, right? (Laughter and applause.) Who knows? Who knows? But so far, it's been right, and let's keep it that way. The Treasury and Commerce departments will also explore new pathways to accumulate additional Bitcoin holdings for the reserve, provided it's done at no cost to the taxpayers. We don't want any cost to the taxpayers."
"In addition, my order directs federal agencies to conduct an inventory of all crypto assets currently held by the U.S. government and determine how they can be transferred easily to the Treasury," the President continued. "Non-Bitcoin digital assets will be held at a new U.S. digital assets stockpile where they will be managed properly."
Trump also endorsed the efforts behind the BITCOIN Act.
"I also want to express my strong support for the efforts of lawmakers in Congress as they work on bills to provide regulatory certainty for dollar-backed stablecoins and the digital assets market," said President Trump. "They're working very hard on that. This is a tremendous opportunity for economic growth and innovation in our financial sector and will really go a long way. I think there's going to be a tremendous - we feel like pioneers, in a way - a tremendous method of growth. And things are very much tied, and we want to keep it that way - the U.S. dollar - long into the future. We're going to keep it that way. I hope lawmakers will send that legislation to my desk before August recess, if they can. And they're very much working with you. And you know a lot of them, and a lot of them were committed right from the very beginning. "
To learn more about the Strategic Bitcoin Reserve:
Senator Tuberville was elected in 2020.
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