Senator Cynthia Lummis has weighed in on the United States’ debt troubles, stressing that buying more Bitcoin is not the solution to the nation’s $37 trillion burden.
Her comments came in response to Treasury Secretary Scott Bessent, who earlier outlined the administration’s plans for the Strategic Bitcoin Reserve, a program established under the U.S. President Donald Trump’s March Executive Order.
According to Bessent, the reserve will be built using Bitcoin seized by the federal government, rather than new purchases funded by taxpayers.
Speaking on Fox Business, Bessent said, “We’ve also started to move into the 21st century, a Bitcoin reserve. We’re not going to be buying that, but we are going to use assets seized and keep building that. We’re going to stop selling them.”
The remarks came shortly before Bitcoin’s price slipped below $120,000, eventually stabilizing around $118,000.
In her post on X, Lummis wrote, “Scott Bessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR. America needs the BITCOIN Act.”
Her final response to Bessent was brief but pointed, “I have a ₿ill for that.”
The exchange underscores a broader debate in Washington on how to embrace cryptocurrency as a strategic asset while maintaining fiscal discipline in the face of record national debt.
Also Read: Trump’s Crypto Adviser David Bailey Plans to Buy $762M of Bitcoin
