Representative Nick Begich Presents Parallel Legislation to Senator Cynthia Lummis’ BITCOIN Act

Key Takeaways:

• The companion legislation aims to establish Bitcoin as a strategic, long-term reserve asset within the national financial system.
• Legislators seek to enhance economic independence by incorporating digital assets into government holdings.
• The proposal requires secure, decentralized storage and emphasizes permanent, rather than temporary, asset management.
• It also highlights the importance of safeguarding individual self-custody rights while promoting innovation in fiscal policy.

On Tuesday, March 11, Congressman Nick Begich (R-AK) introduced companion legislation to Senator Cynthia Lummis’ BITCOIN Act in the U.S. House of Representatives during the Bitcoin Policy Institute’s Bitcoin For America forum.

Cynthia Lummis, Nick Begich Reintroduce BITCOIN Act

At the March 11 event, Begich announced that he would present same-day legislation aimed at establishing a strategic Bitcoin reserve for the United States.

Today, I introduced the BITCOIN Act of 2025 in the U.S. House.
The battle on innovation is over and the golden age of digital currency has arrived. pic.twitter.com/5GvbP0nH4y

— Congressman Nick Begich (@RepNickBegich) March 11, 2025

Co-sponsoring the bill are Representatives Addison McDowell (R-NC), Pat Harrigan (R-NC), Michael Rulli (R-OH), Troy Nehls (R-TX), Dave Taylor (R-OH), and Mike Collins (R-GA).

“This legislative effort aims to ensure that the United States retains financial independence and authority in the global digital economy,” Begich stated.

“This bill acknowledges Bitcoin’s potential to complement our gold reserves, strengthen national security, and provide economic stability in an increasingly volatile financial landscape,” he added.

What Does The BITCOIN Act Entail?

Begich’s announcement coincides with Lummis’s revelation that she would reintroduce the BITCOIN Act following her initial proposal in July 2024.

If enacted, the bill would establish a program to acquire 1 million Bitcoin units—representing 5% of the total Bitcoin supply—create a decentralized network of secure Bitcoin vaults for government holdings, and affirm the self-custody rights of individual Bitcoin holders.

Senators Marsha Blackburn (R-TN), Bernie Moreno (R-OH), Roger Marshall (R-KS), Jim Justice (R-WV), and Tommy Tuberville (R-AL) have also signed on as co-sponsors for the Senate version of the legislation.

“Bitcoin should not merely be viewed as a technological alternative, but as a national imperative for America’s ongoing financial leadership in the 21st century,” Lummis stated in a press release.

“Together, we are not just adapting to the future—we are actively shaping it, writing the next chapter in America’s proud history of financial innovation and securing lasting prosperity for all our citizens,” she added.

As lawmakers like Begich and Lummis advocate for the integration of Bitcoin into America’s financial framework, significant questions arise: How will such an unprecedented reserve impact global financial dynamics, and will other nations follow suit?

The BITCOIN Act represents a significant transformation—not only in how the U.S. perceives digital assets but also in its approach to economic sovereignty in an era characterized by technological advancement.

Only time will reveal whether this initiative solidifies America’s position in the evolving digital economy or sets the stage for intense discussions regarding the government’s role in cryptocurrency.

Frequently Asked Questions (FAQs)

How might a Bitcoin reserve enhance the nation’s financial position?

Incorporating Bitcoin into national reserves aims to diversify government assets and provide a hedge against inflation, thereby reinforcing fiscal stability while significantly improving the dollar’s global standing.

What risks does the proposed reserve introduce for asset management?

Risks center on Bitcoin’s volatility and changing policies that could undermine long-term reserve strategies. Effective asset management would necessitate stringent oversight and flexible regulations to respond to market fluctuations.

How does this legislation differ from previous government actions on digital assets?

Unlike earlier government orders, the bill establishes a permanent legal framework for Bitcoin acquisition and storage. It enshrines long-term holding with decentralized vaults, marking a departure from temporary measures.

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