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US Senator Lummis' new Bitcoin bill demands stricter purchasing plans, and uses the revaluation gains of gold for buying Bitcoin

US Senator Lummis' new Bitcoin bill demands stricter purchasing plans, and uses the revaluation gains of gold for buying Bitcoin

Bitget2025/03/13 03:53

According to Bitcoin Laws, US Senator Cynthia Lummis has resubmitted the Bitcoin bill to the Senate, after the 2024 version was shelved in committee. The new version, like its predecessor, proposes buying one million bitcoins within five years but contains several key differences.

The 2025 version of the Bitcoin bill sets a stricter plan to purchase 200,000 bitcoins annually (rather than "up to" 200,000 as in the 2024 version). The new edition also strengthens holding requirements and removes exceptions for federal debt repayment tools found in previous versions.

The bill adds provisions coordinating bitcoin purchases with the Exchange Stabilization Fund (ESF), which was not mentioned in the 2024 version. The ESF is a reserve fund of the U.S. Treasury Department with approximately $39 billion in assets; administrative departments' bitcoin acquisitions may tap into this fund.

In terms of gold revaluation, the new version explicitly stipulates that profits from revaluing federal gold reserves should be used to buy bitcoins. In contrast, the 2024 edition only included these funds into general funds - a significant change.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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