President Trump is backing a new bill that would make the US government buy a whopping one million Bitcoins! This was revealed by Wyoming Senator Cynthia Lummis at the Bitcoin 2025 conference. She was joined by Senators Marsha Blackburn and Jim Justice.
The Plan: A Bitcoin Reserve for the US
The bill, called the BITCOIN Act, would let the US Treasury buy up to one million Bitcoins over five years. This would be done using existing government funds, so it wouldn’t cost taxpayers extra money. At current prices, that’s a roughly $109 billion investment – a significant chunk of the national budget.
Senator Lummis explained that this Bitcoin reserve would be similar to how the US keeps gold at Fort Knox. It’s seen as a way to boost US economic power and security, especially considering the shift in Bitcoin mining to the US after China banned it. She even mentioned that some high-ranking military officials support the idea, seeing economic strength as just as important as military might.
The Timeline
The process will happen in stages:
- Stablecoins First: A bill called the GENIUS Act, dealing with stablecoins, is close to a Senate vote. They expect a vote soon after the break.
- Market Structure Next: After the stablecoin bill, they’ll tackle legislation on market structure.
- Then, the Bitcoin Buy: Finally, they’ll push for the Bitcoin reserve.
Senator Lummis emphasized the importance of public support to help convince Congress to pass the bill before the August recess.
States and Other Countries are on Board
Several states, including Arizona, Texas, and New Hampshire, have already passed their own laws to create Bitcoin reserves. Other countries, like the UAE and Czech Republic, are also exploring similar strategies. This growing global interest in Bitcoin as a reserve asset strengthens the case for the US to do the same.
The Big Picture
The idea of the US government holding a massive Bitcoin reserve is gaining momentum. With President Trump’s support, military backing, and state-level initiatives, this plan is looking increasingly likely. The next few months will be crucial in determining whether this ambitious plan becomes a reality.
