US President Donald Trump has thrown his full backing behind pro-Bitcoin Senator Cynthia Lummis (R-Wyo.) in her 2026 reelection race. Declaring her an “America First Warrior” on his Truth Social platform, Trump singled out Lummis’ leadership on crypto policy, writing that she is “working closely with me to make America the Crypto Capital of the World.”
He wrote: “As the Chair of the Senate Banking Subcommittee on Digital Assets, Cynthia is working closely with me to make America the Crypto Capital of the World. Cynthia is fighting tirelessly to Grow the Economy, Cut Taxes and Regulations, Secure our Border, Defend our always under siege Second Amendment, Strengthen our Incredible Military/Vets, and Put our Great Farmers, Ranchers, and Energy Producers FIRST.
Lummis responded via X, expressing gratitude and reiterating her longstanding advocacy for the people of Wyoming: “Powder River Let ‘R Buck. Thank you, President Trump! I will never stop fighting for Wyoming. Its people are proud patriots, freedom maximalists and lovers of liberty. It truly is the last best place on earth. America First. America Always.”
Why This Matters For Bitcoin
Elected to the US Senate in 2020—defeating Democratic challenger Merav Ben-David—Lummis has since emerged as one of Capitol Hill’s most vocal advocates for Bitcoin. She was appointed Chair of the Senate Banking Subcommittee on Digital Assets earlier this year, a role that places her at the forefront of national regulatory efforts.
Among her signature initiatives is the BITCOIN Act, reintroduced two weeks ago, which proposes that the Treasury Department purchase 1 million Bitcoins over a five-year period.
The timing of Trump’s endorsement coincides with Lummis’ renewed push for a clear regulatory landscape for digital assets, coupled with the establishment of a US Strategic Bitcoin reserve—an initiative that Trump has already given executive approval to. Within his executive order, Trump authorized the Secretaries of Treasury and Commerce to develop “budget-neutral strategies” for acquiring additional Bitcoin.
At the DC Blockchain Summit 2025 on March 26, 2025, Lummis reiterated her long standing search for ways to balance government budgets, hinting that Bitcoin could hold “enduring value long term” and even suggesting it might halve the national debt “if it is held for 20 years.” She also pointed to Wyoming’s historical practice of converting mineral wealth into diversified investments, suggesting Bitcoin now fills a similar role.
“Bitcoin is easy to store, it is immutable, it is scarce, we can protect it in individual vaults that can be secure and hold it for 20 years. If it is held for 20 years, pursuant to the best modeling available, we can reduce our national debt by half,” Lummis remarked.
On the question of financing a Strategic Bitcoin reserve in a budget-neutral way, Lummis proposed updating the face value of the nation’s gold certificates. “We could take our gold certificates, which are currently held at the Federal Reserve on the books at their 1974 value, which is $42 an ounce. Now, most of us know that gold has gone closer to 3,000 an ounce. So if we took those gold certificates, not physical gold, let’s keep our physical gold. Let’s take the gold certificates, bring them up to current fair market value, and convert them to Bitcoin,” she stated.
Lummis further detailed budget-neutral possibilities for Bitcoin acquisition, in line with President Trump’s executive order for creating a strategic reserve: “Other possibilities that we were just discussing in the back room that are really exciting is that the United States has energy producing assets. Let’s use those to convert the energy production capabilities of the United States government to producing Bitcoin. […] And there are a myriad of other ideas for fulfilling the goals of President Trump’s executive order by creating a strategic Bitcoin reserve without expending a single new dollar from the taxpayers.”
At press time, BTC traded at $87,495.
Featured image from YouTube, chart from TradingView.com
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