Some US Republicans urge the Treasury to buy Bitcoin (BTC)

JH Kim

Summary

Some US Republican lawmakers reported that they are calling on the US Treasury to review the possibility of purchasing Bitcoin (BTC).
They said Senator Cynthia Lummis proposed buying Bitcoin using gold reserves, arguing Bitcoin could serve as a long-term store of value.
They reported that some Republicans believe Bitcoin should be discussed as a national-level strategic asset and strategic reserve asset, though no specific purchase size or timing was mentioned.

Some Republican lawmakers in the United States have formally called on the Treasury Department to purchase Bitcoin (BTC), arguing it should be considered a strategic asset at the national level.

According to Walter Bloomberg, a financial breaking-news account, on the 4th (local time), Republican lawmakers are demanding that the US Treasury examine the possibility of buying Bitcoin. They stressed Bitcoin’s strategic value amid shifts in the global asset landscape.

US Senator Cynthia Lummis sent a letter to Treasury Secretary Scott Bessent proposing a plan to buy Bitcoin using the gold reserves. She argued that Bitcoin could serve as a long-term store of value.

Sen. Lummis made a similar proposal last year as well. At the time, she said that if the United States were to hold Bitcoin as a strategic reserve asset, it could prepare for changes in the monetary system.

Some Republicans say that given Bitcoin’s share of the digital-asset market and global demand, a Treasury-level discussion is necessary. However, no specific purchase size or timing was mentioned.

The US Treasury has not issued an official position on purchasing Bitcoin. Discussions in Congress and policy decisions by the administration are expected to follow.