Treasury to lock $6B annually in Bitcoin—bypassing Congress's budget power
S. 954 — BITCOIN Act of 2025 · Filed by Cynthia Lummis (R-WY) · 5 cosponsors · Introduced Mar 11, 2025 · Referred to committee
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What it does
This bill directs the U.S. Treasury to purchase 1 million Bitcoin over 5 years and establish a Strategic Bitcoin Reserve—a network of secure storage facilities across the country—to hold the government's Bitcoin holdings for at least 20 years. The bill also allows states to voluntarily store their own Bitcoin in segregated accounts within the reserve, and funds the purchases using Federal Reserve remittances and gold certificate revaluations, rather than direct appropriations.
Why we flagged it
The bill's core function is to establish a government Bitcoin reserve and purchase program, funded through Federal Reserve earnings and gold certificate revaluation rather than direct appropriation. This is a novel fiscal mechanism that treats Bitcoin as a strategic national asset comparable to gold reserves.
- Section 9 amends the Federal Reserve Act and gold certificate procedures to fund Bitcoin purchases—a mechanism substantively unrelated to the core Bitcoin reserve policy and buried in fiscal/technical language.
What the text implies
- The bill commits $6 billion annually in Federal Reserve remittances (fiscal years 2025–2029) to Bitcoin purchases, reducing funds available for debt reduction or other Treasury priorities, with no sunset or recapture mechanism if Bitcoin depreciates.
- The 20-year minimum holding period locks the government into a volatile, speculative asset with no flexibility to respond to market crashes, regulatory changes, or competing fiscal needs.
- Section 8 allows states to store their own Bitcoin in the Strategic Bitcoin Reserve, creating a novel federal-state custody arrangement with unclear liability and regulatory precedent.
- The bill's 'Proof of Reserve' system (Section 6) requires quarterly public cryptographic attestations, potentially exposing the government's Bitcoin holdings to real-time market surveillance and making the reserve a high-value target for cyberattacks.
- Section 7 consolidates all federal Bitcoin holdings (including seized assets from criminal forfeitures) into the reserve, potentially commingling law-enforcement proceeds with strategic reserves in ways that complicate asset recovery and restitution.
Who it affects
Citizens gain potential long-term financial resilience if Bitcoin appreciates and strengthens U.S. reserves, plus transparency mechanisms (quarterly public reports, independent audits, Comptroller General oversight). However, the bill commits $6 billion annually in Federal Reserve earnings that could otherwise reduce the national debt or fund public services, and it locks the government into a volatile, speculative asset for 20 years with no clear exit strategy or public mandate.
Who stands to gain
- Bitcoin holders and cryptocurrency ecosystem (increased institutional demand and legitimacy)
- Cryptocurrency exchanges and custodians (potential contracts for storage and auditing)
- Financial institutions with regulatory exposure to digital assets (AIG, FBK, FMAO, PFG, PRU—mapped a
Named in the bill
U.S. Treasury Department, Federal Reserve, U.S. Marshal Service, Department of Defense, Department of Homeland Security, Comptroller General, Bitcoin, Strategic Bitcoin Reserve, Exchange Stabilization Fund, Federal Reserve Act, AIG, FBK — and 3 more
Where it stands
5 cosponsors: 5 Republicans.
- Mar 11, 2025 — Introduced · Congress.gov: “Introduced in Senate”
- Mar 11, 2025 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
2 lobbying clients named this bill on 4 disclosure filings across 3 quarters, Dec 2025 to Jun 2026. Those filings disclosed $440,000 in lobbying spend. A filing names 4 bills on average, so that figure is what each filing reported, not a share belonging to this bill.
More lobbying clients named this bill than 41% of bills with at least one filing.
Cynthia Lummis, the sponsor, reported $550,692 in PAC receipts in the 2026 cycle.
- Anchor Labs, Inc. — $360,000 on 3 filings
- Xapo Bank Limited — $80,000 on 1 filing
Lobbying Disclosure Act filings through Jul 20, 2026. A filing shows who paid to lobby on a bill it names, not what changed.
How this was measured
Analysis — Quorum's AI read the full bill text on Jul 2, 2026; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Dec 2025 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 20, 2026 · page rendered 2026-10-20.
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