New York – Senator Cynthia Lummis, who introduced a bill to create a Bitcoin reserve fund in the United States, said the process of implementing the idea could take longer than many cryptocurrency advocates expect. According to Bloomberg News, Lummis said that some states could set up Bitcoin reserves before the federal government.

Speaking at a conference in New York hosted by Anthony Pompliano on Friday, Lummis emphasized that states are often the birthplace of innovation. She also noted that many countries around the world have begun to look toward accumulating Bitcoin as a strategic reserve asset.

Lummis specifically mentioned the United Arab Emirates, which has officially begun buying Bitcoin for its reserves. In addition, she pointed out that many sovereign wealth funds around the world, not bound by a democratic republic system like the United States, could act more quickly in accumulating digital assets.

The idea of ​​establishing a national strategic Bitcoin reserve was first raised by President Donald Trump and Senator Lummis at an industry conference in Nashville in July. However, in January, President Trump signed an executive order on cryptocurrencies, which directed research into the feasibility of a digital asset reserve, rather than directly declaring Bitcoin as the central reserve asset of the country.

With the global interest in Bitcoin and cryptocurrencies increasing, the possibility of some states in the United States taking the initiative to build a Bitcoin reserve fund before the federal government is becoming a potential scenario. This not only reflects the growing trend of cryptocurrency adoption, but could also lay the groundwork for new financial policies in the future.