Best Crypto To Buy Now As US Senator’s Plan To Buy 1 Million Bitcoin Gains Traction
Wyoming Senator Cynthia Lummis has reintroduced the BITCOIN Act of 2025 in the U.S. Senate, a bill that seeks to create a Strategic Bitcoin Reserve and acquire one million BTC over a span of five years.
Crucially, the proposal is receiving significantly higher support than last year, with five new co-sponsors in the Senate. In the House, Representative Nick Begich of Alaska has also introduced a companion bill, which has six co-sponsors.
A congressionally approved Strategic Bitcoin Reserve, with a mandate to acquire additional BTC, could trigger a seismic shift in the crypto landscape and a major upward repricing of the Bitcoin price.
Will The United States Buy 1 Million Bitcoin?
Donald Trump signed an executive order last week to establish a Strategic Bitcoin Reserve using the U.S. government’s BTC holdings.
While the BTC price saw an initial feeble rally, it immediately retraced the pump and became red as the executive order did not have any immediate provisions for the government to acquire additional Bitcoin.
Experts maintain that the reserve will prove to be bullish in the long term, considering it does Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to find budget-neutral avenues to acquire new BTC.
On the contrary, Senator Lummis’s plan could catapult the Bitcoin price to new all-time highs in the span of a few minutes.
Trump’s EO appears to have resulted in strong support for the BITCOIN Act, which now has additional co-sponsors in each house. Lummis’s bill is co-sponsored by Senator Jim Justice (R-WV), Senator Tommy Tuberville (R-AL), Senator Roger Marshall (R-KS), Senator Marsha Blackburn (R-TN), and Senator Bernie Moreno (R-OH).
Similarly, Begich’s companion bill now has six additional co-sponsors, including Addison McDowell (R-NC), Pat Harrigan (R-NC), Michael Rulli (R-OH), Troy Nehls (R-TX), David Taylor (R-OH), and Mike Collins (R-GA).
While the numbers are still far away from the 60 needed in the Senate and the 218 in the House of Representatives, Trump’s continued support could significantly increase the odds of Congressional approval.
It is not without reason that Senator Lummis posted “I am for real this time” on X, hinting that the odds of the US buying Bitcoin are substantially higher than last year.
Van Eck Reveals BTC Price Target If US Buys 1 Million Bitcoin
I am for real this time. pic.twitter.com/0ejFxTY5ta
— Senator Cynthia Lummis (@SenLummis) March 11, 2025Van Eck Reveals BTC Price Target If US Buys 1 Million Bitcoin
$150 billion asset management fund Van Eck has tried to measure the extreme bullish impact of a Congressionally-approved Strategic Bitcoin Reserve.
The TradFi giant agrees with Senator Lummis’s assessment that the United States could pay off a significant portion of its national debt if it decides to hold 1 million Bitcoin for 20 years.
According to Van Eck’s BTC report, Bitcoin’s price could reach $21 million by 2049, pushing the U.S. government’s holdings to over $21 trillion—approximately 18% of the projected national debt at that time.
Bitcoin’s price could reach $21 million by 2049, pushing the U.S. government’s holdings to over $21 trillion—approximately 18% of the projected national debt at that time.
Best Crypto To Buy Besides Bitcoin
Sidelined investors will need to reevaluate their altcoin strategy if the Strategic Bitcoin Reserve is approved.
For instance, it is unlikely that the US government would ever invest in assets that are a part of its crypto stockpile, including Ethereum, Solana and XRP.
Consequently, sidelined investors may have to buy Bitcoin-themed altcoins and meme coins for outsized returns.
For instance, BTC Bull (BTCBULL), a new meme coin, has created quite a frenzy and has raised over $3 million in its ICO, thanks to its promise of free Bitcoin.
The project is built upon the foundation that BTC is highly undervalued at its current price and will eventually hit $250k. As a result, BTCBULL holders will receive free Bitcoin and BTCBULL airdrops.
Regular burn events are also scheduled, with the first one lined up for when BTC hits $125k. The first Bitcoin airdrop will be triggered when the price hits $150k.
Considering its unique value proposition, prominent analysts believe that the new meme coin is one of the best cryptos to buy, with some even eyeing it as the next 100x crypto.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
