Senator Lummis Hints at U.S. Bitcoin Purchases as Texas Acquires $5M in BTC

Bitcoin

Senator Lummis Hints at U.S. Bitcoin Purchases as Texas Acquires $5M in BTC

The U.S. government may soon purchase Bitcoin, as hinted by Senator Cynthia Lummis in a recent social media post, potentially marking a major shift in federal policy toward cryptocurrency as a strategic asset. This move could follow Texass recent acquisition of nearly $5 million in Bitcoin through a state-managed fund, signaling growing institutional adoption.

• Senator Lummiss post featured a cartoon of Franklin the Turtle with Bitcoin symbols, teasing “big things” for U.S. fiscal strategy.
• Texas invested nearly $5 million in Bitcoin via BlackRocks exchange-traded fund, establishing a state cryptocurrency reserve.
• Experts predict U.S. government Bitcoin holdings could pressure global central banks to follow suit, with BTC prices around $87,000 at the time of Texass purchase.

What Does Senator Lummiss Hint Mean for US Government Bitcoin Purchase？

Senator Cynthia Lummis, a prominent advocate for cryptocurrency in Washington, recently suggested through a social media post that the U.S. government could be preparing to acquire Bitcoin. This indication came in the form of a playful image featuring Franklin the Turtle, a character increasingly linked to government-related memes, accompanied by the caption “₿ig things coming for Franklin.” Lummis has long championed Bitcoin as a tool for long-term financial stability amid rising national debt, pushing for its recognition as a strategic reserve asset rather than mere speculation.

How Is Texas Leading the Way in State-Level Bitcoin Investments？

Texas has taken a pioneering step by confirming the purchase of nearly $5 million worth of Bitcoin through an exchange-traded fund managed by BlackRock. This acquisition, approved under Senate Bill 21 signed by Governor Greg Abbott, establishes a taxpayer-funded strategic cryptocurrency reserve for the state. The move highlights a broader trend where state governments are exploring digital assets to diversify reserves and foster innovation in blockchain technology.

During legislative discussions, supporters emphasized Bitcoin‘s fixed supply of 21 million coins and its growing acceptance among institutions as reasons for investment. Critics, however, raised concerns about volatility, noting that Bitcoin’s price can fluctuate dramatically—dropping over 50% in past bear markets before rebounding. Data from market analyses shows that despite these risks, Bitcoin has delivered average annual returns exceeding 200% over the last decade, according to reports from financial research firms like Chainalysis.

Lee Bratcher, executive director of the Texas Blockchain Council, which supported the bill, stated in public comments, “Texas staking out a leadership position will be very beneficial to Texans over time, similar to what the oil and gas industry has done over the last century.” He revealed that the purchase occurred late last month when Bitcoin traded near $87,000, positioning the state for potential long-term gains in areas like economic growth and tax revenue enhancement.

This initiative follows similar efforts in other states. New Hampshire and Arizona have passed legislation to create their own crypto reserve frameworks, reflecting a patchwork of state-level enthusiasm amid federal uncertainty. While Wisconsin and Michigan‘s pension funds allocated to cryptocurrencies last year, Texas’s direct funding of a reserve marks a more aggressive approach. Proponents argue that such investments align with decentralization principles by distributing holdings beyond traditional fiat systems.