PK Press Club — The prospect of a U.S. strategic reserve appears to be gaining traction, with a nod from Senator Cynthia Lummis and an endorsement from Binance founder Changpeng Zhao, known as CZ.
On Thursday, it was announced that Senator Lummis would chair the Senate Banking Subcommittee on Digital Assets.
Lummis tweeted about his commitment to advancing digital asset legislation. She highlighted the need for Congress to adopt a bipartisan framework that not only promotes innovation in digital assets, but also strengthens the U.S. dollar with a “strategic Bitcoin reserve.”
“Digital assets are the future, and if the United States is to remain a global leader in financial innovation, Congress must urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets and strengthening the dollar American with a strategic reserve of bitcoins.” Lummis wrote.
She described her nomination as a historic opportunity to secure the nation’s financial future under President Trump’s administration.
CZ, the founder and former CEO of Binance, amplified the buzz with a tweet quote stating: “US Bitcoin Strategic Reserve, pretty much confirmed. Crypto is moving at the speed of crypto again.
When announcing Lummis’ new role, Senate Banking Committee Chairman Tim Scott said that “blockchain technology and cryptocurrency have the potential to democratize the financial world.” he added that “there is no better champion of the industry than my friend Cynthia Lummis.”
“Working with the Trump Administration and our House colleagues, we will advance a common-sense regulatory framework to facilitate innovation here in the United States, not abroad,” Scott added.
If pursued, a U.S. Bitcoin reserve could further validate the cryptocurrency’s role in global finance while positioning the United States as a leader in the digital asset space.
