Senator Lummis Says Trump Supports Her BITCOIN Act That Could Erase U.S. Debt
In a groundbreaking speech on Capitol Hill today, Senator Cynthia Lummis delivered a powerful message: the United States is at a critical juncture, and traditional solutions will no longer suffice. Senator Lummis boldly proclaimed that the passage of the BITCOIN Act is the only viable solution to address the nation’s staggering $36 trillion debt. In a tweet, she expressed gratitude for President Donald Trump’s endorsement of her initiative, emphasizing his proactive approach to tackling this pressing issue.
If enacted into law, the BITCOIN Act would authorize the U.S. government to acquire 200,000 bitcoins annually for a period of five years, resulting in the creation of a strategic reserve of 1,000,000 BTC to be held for a minimum of two decades. This move represents a significant shift towards embracing cryptocurrency as a means of addressing the country’s economic challenges.
Senator Lummis outlined three potential scenarios for America’s future: succumbing to a default, descending into hyperinflation, or leveraging Bitcoin and technology to navigate a path towards financial stability. She firmly believes that Bitcoin’s finite supply makes it a viable tool for restoring long-term monetary discipline, emphasizing the importance of upholding trust within the financial system to prevent a catastrophic loss of confidence.
In her address, Senator Lummis issued a stark warning about the consequences of unchecked inflation, drawing parallels to historical examples such as Zimbabwe and the Weimar Republic. She emphasized the importance of adopting a deflationary approach, leveraging technology to enhance productivity and reduce costs as a means of outpacing the country’s mounting debt burden.
The BITCOIN Act, initially introduced last year and reintroduced at the 2025 “Bitcoin for America” Summit, has garnered bipartisan support in both the House and Senate. Congressman Nick Begich has emerged as a key proponent of the bill in the House, aligning with Senator Lummis’ vision for a Bitcoin-centric fiscal and monetary foundation grounded in discipline and confidence.
President Trump’s recent executive order establishing a federal Bitcoin reserve using seized BTC assets underscores the administration’s commitment to embracing cryptocurrency as a strategic asset. However, Senator Lummis emphasizes the need for legislative action to solidify a long-term national Bitcoin strategy that transcends presidential administrations and ensures sustained accumulation of digital assets.
Asset manager VanEck estimates that implementing the BITCOIN Act could potentially offset up to $21 trillion of national debt by 2049, underscoring the transformative impact of integrating cryptocurrency into the country’s economic framework. Senator Lummis concluded her address with a sobering reminder of the dollar’s diminishing influence, urging Americans to invest in tangible assets or risk being left behind in an evolving financial landscape.
