U.S. Senator Cynthia Lummis has expressed her belief that establishing a strategic Bitcoin reserve is feasible in the near future and could enhance U.S. financial stability. Lummis shared this perspective in a November 11 post on X.

"I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people," said Lummis. "It is a game changer for the solvency of our nation. Let's put America on sound financial footing and pass the Bitcoin Act!"

In July, Lummis introduced the Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, as noted in a press release. The proposed legislation aims to create a strategic Bitcoin reserve and initiate a Bitcoin purchasing program, through which the U.S. would acquire one million Bitcoins over a designated period. These Bitcoins would be stored in a decentralized network of vaults managed by the U.S. Treasury Department. According to Lummis, this legislation would assist Americans in combating inflation and help address the national debt.

"Bitcoin is transforming not only our country but the world," Lummis said, adding that adopting Bitcoin as a savings technology positions the U.S. as a leader in financial innovation. "This is our Louisiana Purchase moment that will help us reach the next financial frontier."

David Bailey, CEO of BTC Inc., also commented on the matter, describing the creation of a strategic Bitcoin reserve as an "urgent and transformational policy." He said that "the downstream effects change everything."

President-elect Donald Trump reportedly supports the establishment of such a reserve, according to Yahoo Finance.

Lummis previously served as Wyoming State Treasurer for eight years before being elected to the U.S. House in 2008, as detailed on her website. In 2021, she became the first female U.S. senator from Wyoming.