U.S. Debt Tops $39 Trillion as Senator Lummis Pushes Bitcoin Act Proposal

U.S. federal debt surpassed $39 trillion in mid-March, with debt held by the public exceeding $31 trillion. According to Odaily, the Congressional Budget Office projects the fiscal 2026 deficit will reach $1.9 trillion, and debt held by the public will rise to $56 trillion by 2036.

Senator Cynthia Lummis continues to promote the BITCOIN Act, which would require the U.S. Treasury to buy up to 1 million BTC over five years and hold it for at least 20 years. The report said there has been no official confirmation of any purchases.

Lummis said on June 16 that her model estimates the holdings could reduce U.S. national debt by one-third to one-half. She also forecast that the Treasury would begin buying Bitcoin before the end of 2026.