Bitcoin Reserve Funding Ready to Launch, Confirms Senator Cynthia Lummis

TLDR

• Senator Cynthia Lummis confirmed that funding for the US Bitcoin Reserve can begin at any time.
• Legislative delays are still preventing the official launch of the Strategic Bitcoin Reserve.
• The reserve will be initially funded with Bitcoin seized by the US Department of Treasury.
• Additional Bitcoin may be acquired through methods that do not add costs for taxpayers.
• Senator Lummis praised the proposal to leverage gold gains to invest in Bitcoin.

Senator Cynthia Lummis has confirmed that funding for the US Strategic Bitcoin Reserve can begin at any time. However, she noted that legislative procedures are still delaying the formal rollout of the program. She emphasized that, with the support of President Donald Trump, operational steps toward funding the Bitcoin reserve are no longer blocked.

Strategic Bitcoin Reserve Backed by Treasury Seizures

The Strategic Bitcoin Reserve (SBR) will initially receive Bitcoin seized by the Department of the Treasury. These include BTC obtained from civil and criminal cases that resulted in government asset forfeiture. The official plan states the Bitcoin reserve will grow without adding new taxpayer burdens.

Additionally, the reserve may receive Bitcoin through other “budget-neutral” methods that don’t increase government costs. While funding can begin now, Lummis pointed out that Congress still needs to advance related legislation. “It’s a slog,” she stated, describing the slow legislative path.

Jeff Park of ProCap BTC sparked renewed attention with a recent video shared on X, discussing how paper gold profits might support Bitcoin investment. Park’s proposal aligned with ongoing interest in expanding the Bitcoin reserve using existing government assets.

Lummis Pushes for the BITCOIN Act

In response to Park’s video, Senator Lummis strongly supported the idea of backing Bitcoin with gold profits. She stated,

Lummis has remained one of Bitcoin’s top political advocates in Washington.

According to her, the BITCOIN Act provides the legislative framework to formalize the Bitcoin reserve. However, despite early executive support, the bill remains pending in Congress. Lawmakers have not yet finalized how funds or new Bitcoin acquisitions will be structured.

Pompliano also commented on the developments in a CNBC interview. He stressed the market awaits confirmation of actual Bitcoin purchases by the US government. The Bitcoin reserve may soon shift from a passive holding to active accumulation.

Market Eyes Next Steps in Bitcoin Accumulation

Pompliano outlined three key points that the market closely watches regarding the US Bitcoin reserve. The key interest lies in when the government starts actively buying Bitcoin. Current holdings from seizures serve only as an initial step.

He said, “The main dish is when they start buying,” highlighting the market’s expectation of direct BTC acquisitions. Analysts suggest that even a small allocation could have a significant impact on market behavior. The Bitcoin reserve would then serve as a potential financial hedge.

The post Bitcoin Reserve Funding Ready to Launch, Confirms Senator Cynthia Lummis appeared first on CoinCentral.