Senator Cynthia Lummis (Republican-Wyoming), a prominent Bitcoin supporter in the United States, strongly advocated for strategic Bitcoin reserves at the Bitcoin 2025 Conference, stating that "if the US holds 100,000 BTC and maintains it for 20 years, it could reduce the current national debt by half".
During a fireside talk with Coinbase's Chief Legal Officer Paul Grewal at the 'Nakamoto Stage' on May 27th, Lummis emphasized, "The US has led the world in technology, financial markets, and innovation. Bitcoin is no exception." She stressed that the government should create an environment that helps rather than hinders this progress.
Pursuing Strategic Reserve Legislation... "Converting Gold Assets from the 1970s to Bitcoin"
Lummis revealed that "Former President Trump has publicly supported the concept of strategic Bitcoin reserves" and detailed the legislative efforts to realize this. She explained that "it is realistically possible to convert currently undervalued government gold certificates to market value and purchase Bitcoin," adding that "we can improve asset structure without adding new debt".
She further added, "Robert F. Kennedy Jr. claimed that holding 4 million BTC could fully repay national debt, but we can create significant change by securing just half of that".
Emphasizing Regulatory Reform... "SEC Only Increases Legal Uncertainty"
In the discussion, Lummis directly criticized the US Securities and Exchange Commission (SEC). "The SEC is filing lawsuits without clear regulatory guidelines," she stated, "which only makes the US an enemy of technological innovation".
She pointed out that "US companies are currently operating without legal certainty, like playing tennis without an opponent," and that "this is the worst way a free country can treat entrepreneurs and innovators".
Sequentially Pursuing Stablecoin, Market Structure, and Tax Reforms
Lummis presented her current legislative priorities for digital assets as follows:
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Stablecoin Act (Genius Act): Already passed through the Senate Banking Committee and preparing for a full vote through bipartisan consensus.
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Market Structure Law: A bill to regulate exchange operations, custody, and Bitcoin use cases, which she emphasized is "even more important for the industry than stablecoins".
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Tax Reform: Introducing a $600 de minimis exemption for small transactions and eliminating double taxation on Bitcoin mining.
"Bitcoin Mining is Energy Innovation and a National Security Strategy"
Lummis also focused on the energy efficiency of Bitcoin mining. She explained that "through mining, we can absorb surplus nighttime electricity like the Texas power grid and reduce supply during the day to increase stability." She also noted that "the mining industry will lead energy technology innovation in response to the rapidly increasing energy demand with AI proliferation".
Moreover, she emphasized that "Bitcoin is not just an economic asset, but a digital defensive asset through which the US can secure leadership in the economic war with China".
"America is the Beacon of Freedom... Citizens Must Ensure the Government Doesn't Obstruct"
In her closing remarks, Lummis appealed, "We have always led the world, and we must continue to do so," urging, "innovators in this room are ahead of the government, and you must make the government catch up".
She added, "If the Wright Brothers had been blocked by regulators in this era, humanity would not have learned to fly," emphasizing that "Bitcoin represents the future industry symbolizing economic freedom, technological freedom, and individual freedom".
This discussion provides a comprehensive overview of Lummis's legislative strategy, market structure perception, tax reform plans, and national strategic reserve concept, and is expected to be a significant milestone in determining the future direction of US digital asset policy.
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