The US could tie its financial future to Bitcoin, under a bold new plan that proposes a national reserve — “buy, baby, buy,” urges one senator, as debt explodes.
US Senator Calls for Action on the Bitcoin Act as Debt Rises—Time to ‘Buy, Baby, Buy,’ She Says
US Senator Cynthia Lummis (R-WY) is increasing pressure on Congress to pass the Bitcoin Act, legislation aimed at creating a strategic Bitcoin reserve to strengthen America’s financial position and long-term economic competitiveness. Promoting the act on the social media platform X, Lummis, who chairs the Senate’s Subcommittee on Digital Assets, wrote:
Reasons to pass the Bitcoin Act and buy, baby, buy: 1) The Bitcoin Act will help America get our debt under control; 2) Only one nation will have the capacity to hold enough Bitcoin to back its currency as the world’s reserve.
“The clock and the next block are ticking: Let’s go!” she added. Her contribution followed recent remarks by BlackRock CEO Larry Fink, who warned in his 2025 Annual Chairman’s Letter that the U.S. risks losing its reserve currency status if federal debt continues to rise unchecked. Fink noted that interest payments are expected to exceed $952 billion this year—more than defense spending—and that by 2030, all federal revenue could be consumed by mandatory spending and debt service. While Fink remains supportive of decentralized finance, he acknowledged that Bitcoin could become a more attractive alternative if confidence in the U.S. dollar continues to erode.
Lummis introduced the Advancing Innovation, Technology, and Competitiveness Through Optimized Investments Nationwide (BITCOIN) Act in the U.S. Senate on March 11. The legislation aims to codify President Donald Trump‘s executive order establishing a United States Strategic Bitcoin Reserve. “Bitcoin is not just a technological opportunity, but a national imperative for America’s continued financial leadership in the 21st century,” the senator said in a statement announcing the legislation.
She explained that the legislation would help the United States maintain its leadership in global finance while addressing its long-term debt burden. The proposal would authorize a federal purchase program of up to 1 million BTC over a specified period. It also calls on the Treasury Department to create a decentralized network of secure Bitcoin vaults with strict physical and cybersecurity controls. The measure would be funded by diversifying existing assets in the Federal Reserve System and the Treasury, not through new taxpayer appropriations. Furthermore, the legislation affirms the right of self-custody for Bitcoin holders and stipulates that the Federal Reserve shall not interfere with personal financial freedoms.
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