President Donald Trump backs a plan to accumulate 1 million Bitcoin over five years through the BITCOIN Act. Senator Cynthia Lummis announced this during the Bitcoin 2025 conference in Las Vegas on May 25.
The BITCOIN Act, reintroduced by Lummis in March 2025, instructs the U.S. government to create a Bitcoin Strategic Reserve.
The plan will rely on existing funds from the Treasury and the Federal Reserve. It will not require new taxes or increase the federal budget.
“President Trump supports the bill,”
Lummis said. She also revealed that the White House has formed a team to manage policies tied to Bitcoin, stablecoins, and digital asset market structure.
The legislation is being prepared in three parts, with stablecoin regulation expected to come first.
Stablecoin Bill Advances as Part of Broader Crypto Plan
Senator Lummis confirmed that the Senate Banking Committee has passed a stablecoin bill. She said the full Senate may vote on it after the current recess.
“We’re getting close to being ready to have it on the floor,”
she stated.
The digital asset strategy includes three stages: the stablecoin bill, a market structure framework, and the BITCOIN Act. Each part targets a different segment of crypto regulation.
Lummis said the legislative effort involved long hours of negotiation with the minority party. These discussions helped move the stablecoin bill through committee. The upcoming Senate vote may further advance the administration’s crypto agenda.
GENIUS Bill Gains Senate Support With 66–32 Vote
The GENIUS Bill—Guiding and Establishing National Innovation for US Stablecoins—was advanced by the Senate in a procedural vote on May 19. The vote passed 66 to 32, clearing the path for formal debate.
David Sacks, a senior adviser on Trump’s crypto policy, confirmed support for the GENIUS Bill. He said the bill is “going to pass,” signaling bipartisan agreement.
The GENIUS Bill is focused on creating clear rules for dollar-backed stablecoins. Tether’s USDt and Circle’s USDC dominate this market, together holding more than 85% of the global $250 billion stablecoin supply. Their values remain close to $1.00, based on full-dollar reserves.
The bill outlines rules for issuing stablecoins and gives federal agencies oversight over compliance and risk management in the sector.
BITCOIN Act Plans to Use Federal Funds for Bitcoin Reserve
The BITCOIN Act proposes that the U.S. government accumulate 1 million Bitcoin using existing funds. At current market prices—approximately $109,001 per Bitcoin—the plan would involve more than $100 billion in assets.
The law states that no new federal spending will be required. Instead, the Treasury Department and the Federal Reserve System will handle the acquisitions. The purchases would be spread over five years.
No specific date has been provided for the start of Bitcoin purchases. However, the measure is part of a broader group of digital asset bills being prepared by the White House.
The plan positions Bitcoin as a strategic asset for the country, similar to how gold and bonds are held in federal reserves.
White House Coordinates Crypto Policy Through Dedicated Team
Senator Lummis explained that a specialized team within the White House is handling the rollout of digital asset legislation.
This includes the GENIUS stablecoin bill, the pending market structure rules, and the BITCOIN Act.
The stablecoin bill is the first to pass committee and is likely to reach a Senate vote soon. The market structure proposal and the 1 million BTC acquisition plan are expected to follow.
Lummis said she will continue promoting the BITCOIN Act and make it widely known.
“I am bringing the BITCOIN Act to the attention of the American people and the world,”
she said.
The 1 million BTC strategy is part of the government’s broader financial policy that includes blockchain-based assets. The effort is coordinated by federal departments and congressional sponsors aligned with the administration.
Details of the May 19 Senate vote and comments from David Sacks confirm active White House engagement in moving the crypto legislation forward.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
