Trump Backs Bill for U.S. Government to Buy 1 Million BTC — Says Senator Lummis
U.S. President Donald Trump supports the BITCOIN Act, a bill that would direct the federal government to acquire 1 million Bitcoin (BTC) over the next five years, according to Senator Cynthia Lummis of Wyoming.
🚨BREAKING:
SENATOR LUMMIS SAYS PRESIDENT TRUMP SUPPORTS THE BILL TO BUY 1 MILLION #BITCOIN
THIS IS MASSIVE 🚀 pic.twitter.com/h0AyCIoufg
— CryptoGoos (@crypto_goos) May 27, 2025
Speaking at the Bitcoin 2025 Conference in Las Vegas, Lummis said, “I’m bringing the BITCOIN Act to the attention of the American people and the world,” adding that “President Trump supports the bill.”
No New Taxes for BTC Acquisition
The BITCOIN Act, reintroduced in March, proposes establishing a Bitcoin Strategic Reserve. The acquisition of 1 million BTC would be funded through existing Federal Reserve and Treasury funds, meaning it would not place a burden on U.S. taxpayers.
Lummis stated that the Trump administration has a dedicated team at the White House working on digital asset legislation, including bills covering stablecoins, market structure, and the Bitcoin reserve—“likely to be rolled out in that order,” she said.
Stablecoin Legislation Advancing in Senate
Lummis also confirmed that the GENIUS Act, a major bipartisan bill to regulate U.S. stablecoins, has already cleared the Senate Banking Committee.
“We’ve spent untold hours working with the minority party to reach a consensus, and we expect the bill to come up for a vote the week before Congress returns from recess,” she noted.
White House Aligns on Crypto Policy
Trump’s senior crypto adviser, David Sacks, recently said the GENIUS Act is “going to pass” following a procedural vote in the Senate on May 19, further signaling bipartisan support for clearer crypto regulation.
The GENIUS Act—short for Guiding and Establishing National Innovation for US Stablecoins—aims to establish a comprehensive legal framework for U.S. dollar-pegged stablecoins, currently dominated by Tether’s USDT and Circle’s USDC, which together represent more than 85% of the $250 billion stablecoin market.
A Strategic Bitcoin Pivot
Lummis’ announcement highlights the Trump administration’s increasing alignment with the Bitcoin and broader crypto industry, following the rise of companies like Strategy and Metaplanet that have built Bitcoin-focused treasury models.
With the BITCOIN Act, the U.S. government would join the growing ranks of institutions seeking long-term exposure to BTC—potentially acquiring nearly 5% of the total Bitcoin supply over the next half-decade.
As digital assets become further integrated into U.S. financial policy, Trump’s support may signal a turning point in mainstream adoption at the federal level.
