Trump Backs Bill To Buy 1 Million Bitcoin — Lummis Reveals When

The opening day of the Bitcoin 2025 conference delivered an unmistakable political signal: President Donald Trump has thrown his weight behind legislation that would require the United States to accumulate a strategic reserve of one million bitcoin. Wyoming Senator Cynthia Lummis disclosed the White House commitment during a policy-heavy session on the conference’s main stage, flanked by Senators Marsha Blackburn and Jim Justice.

Lummis Sets Timeline For Bitcoin Bill

“President Trump supports the bill and he has a team in the White House working on digital-asset issues — everything from stablecoins to market structure to the Bitcoin Strategic Reserve — and they will probably roll out in that order,” Lummis said, bringing “the BITCOIN Act to the attention of the American people and the world.”

The sequencing matters. Lummis confirmed that the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act cleared the Senate Banking Committee before the Memorial Day recess. “We’re getting close to being ready to have it on the floor,” she told the audience, noting that weeks of bipartisan negotiations produced a text the minority party could accept. “We should be voting on it the week we get back from this break. Then we’ll do market structure, and then we’ll do the Bitcoin strategic reserve.”

Modeled on the way Fort Knox anchors US gold holdings, the revised BITCOIN Act — first introduced in July 2024 and re-filed on 11 March 2025 — authorises the Treasury to purchase up to one million BTC over five years using “budget-neutral” mechanisms already available to the Federal Reserve and the Exchange Stabilization Fund. At Wednesday’s spot price of roughly $108,900, the position would be valued at about $108.9 billion, equal to 2.6 percent of the FY 2025 discretionary budget.

Lummis framed the reserve as both an energy and a security imperative. “When China forbade mining of Bitcoin, they did the United States a big favor because a lot of those mining operations came here,” she said, echoing Trump’s recent call to make “Bitcoin mining and America conjoined.” Pairing domestic hash-rate dominance with federal accumulation, she argued, would give Washington a “geopolitical advantage.”

That view, she added, is shared by senior uniformed officers. “I’ve talked to generals in our military who understand that economic power is as important as military power in addressing aggressors around the world — and there are generals … who are big supporters of having a strategic Bitcoin reserve for that reason.”

State-level momentum is reinforcing the federal push. Arizona, Texas and New Hampshire enacted their own strategic-reserve statutes this year, and lawmakers in another thirty jurisdictions debated similar measures. “The states are where the innovation is occurring,” Lummis said, positioning local initiatives as policy laboratories that can be rapidly scaled.

Abroad, the United Arab Emirates is building exposure through US-listed spot ETFs, while the Czech National Bank is studying BTC as a reserve diversifier. “That’s good for America because they’re going to build their sovereign wealth in Bitcoin through an American ETF,” she added.

Although the White House on March 7 issued an executive order directing agencies to lay groundwork for a federal Bitcoin stockpile, only Congress can appropriate funds or modify debt-management statutes — a hurdle the BITCOIN Act is designed to clear. With the stablecoin framework poised for a floor vote in early June and market-structure legislation queued behind it, Lummis told delegates to remain mobilised. “At that time we’ll be calling on you to help members of Congress in your states understand the importance,” she said, underscoring the tight legislative calendar before the August recess.

For now, the path to a trillion-satoshi reserve runs through the Senate cloakrooms. But the political optics are shifting: a sitting president has endorsed federal Bitcoin accumulation, the Pentagon is quietly blessing the concept, and three US states have already legislated partial blueprints.

At press time, BTC traded at $108,905.