Key Takeaways:
- Trump supports the BITCOIN Act, aiming to create a strategic U.S. Bitcoin reserve by acquiring 1 million BTC over five years using existing federal funds.
- The administration prioritizes stablecoin legislation, with the GENIUS Act gaining bipartisan support and advancing through the Senate.
- The Senate Banking Committee has passed a stablecoin bill, signaling imminent votes on key digital asset policies.
U.S. President Donald Trump has endorsed the BITCOIN Act, a legislative proposal aiming to establish a strategic national Bitcoin reserve.
Senator Cynthia Lummis announced the backing at the Bitcoin 2025 conference, noting that the Trump administration is actively working on major digital asset legislation.
🚨BREAKING:
— CryptoGoos (@crypto_goos) May 27, 2025
SENATOR LUMMIS SAYS PRESIDENT TRUMP SUPPORTS THE BILL TO BUY 1 MILLION #BITCOIN
THIS IS MASSIVE 🚀 pic.twitter.com/h0AyCIoufg
The BITCOIN Act, introduced in March, calls for the U.S. government to acquire 1 million Bitcoin over five years using existing funds from the Federal Reserve and Treasury Department, ensuring the plan remains budget-neutral.
Lummis outlined the administration’s legislative priorities in the following order: stablecoins, market structure, and the Bitcoin Strategic Reserve.
Significant progress is already underway, with a bipartisan stablecoin bill passing a Senate committee.
The bill is expected to reach a full Senate vote soon.
A related proposal, the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), also has strong bipartisan support. David Sacks, Trump’s chief crypto adviser, confirmed the stablecoin bill is “going to pass” after a 66–32 procedural vote.
Stablecoins like USDC and USDt—backed by U.S. dollars—currently dominate the $250 billion digital asset market.
Supporters argue these assets could reinforce the dollar’s global reserve currency status and solidify America’s leadership in digital finance.
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