Support for cryptocurrency from U.S. Senator Cynthia Lummis has confirmed that the funding for the U.S. Strategic Bitcoin Reserve (SBR) is now "ready to launch at any time," despite legislative red tape hindering progress.
Lummis stated in a post on X on Monday that while the legislative process is still a "drag," thanks to "President Trump, the funding for the SBR is ready to launch at any time."
Lummis made these comments in response to a post by ProCap BTC Chief Investment Officer Jeff Park, who shared a video of his discussion with Bitcoin bull Anthony Pompliano about the potential of the Strategic Bitcoin Reserve.
Park speculated on what would happen if the government could reinvest its $1 trillion in gold book profits into Bitcoin.
He believes that given the government's approximately $37.88 trillion in fiscal debt, utilizing $1 trillion in book profits is relatively a small risk in the overall picture.
"Therefore, if there is a way to unlock the ability to leverage the gold book profits to gain bullish options on Bitcoin, some incredible things could happen here… If you own Bitcoin and assume it rises 12% per year, you will achieve a 30-fold return in 30 years," he said.
In response, Lummis stated that this is "an excellent articulation of the SBR and the significance of the Bitcoin Act."
It is currently unclear how the funding for the Strategic Bitcoin Reserve will be raised. According to the official government briefing, the reserve will initially be "funded by Bitcoin owned by the Treasury," which has been seized through civil or criminal litigation.
The statement also suggests that additional BTC may be obtained through budget-neutral means, "which will not impose incremental costs on U.S. taxpayers."
It has been seven months since President Donald Trump signed the executive order to establish the Bitcoin Reserve. However, the specific form of the reserve has yet to be confirmed, leading to much speculation and debate surrounding the exact timeline for its launch.
Nevertheless, some expect the government may announce some BTC purchases in the near future. Anthony Pompliano stated in an interview with CNBC over the weekend that the market is currently focused on three key issues:
"The first is that at some point, the U.S. government will announce they are buying Bitcoin. Creating the initial strategic reserve and placing the Bitcoin we already have there is good. But that is not the main course."
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Original: “Senator Lummis: Funding for the U.S. Strategic Bitcoin Reserve (SBR) ‘Ready to Launch Anytime’”
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