Former U.S. President Donald Trump is reportedly on board with a major proposal to have the government invest heavily in Bitcoin, according to Wyoming Senator Cynthia Lummis.
During her speech at the Bitcoin 2025 conference in Las Vegas, Lummis highlighted that she is actively promoting the BITCOIN Act to both the American public and the international community, stating, “President Trump is in favor of the legislation.”
Originally introduced earlier this year, the BITCOIN Act outlines a plan for the U.S. government to purchase 1 million BTC over the next five years. The initiative would utilize funds already available within the Federal Reserve and Treasury, aiming to avoid additional taxpayer costs. The Trump team has emphasized their intent to use “fiscally responsible methods” to carry out these Bitcoin acquisitions.
At the conference, Lummis also noted that the Trump administration has assembled a specialized team to address various digital asset issues. Their legislative priorities include stablecoins, market frameworks, and the proposed creation of a national Bitcoin reserve. She indicated that these efforts will be unveiled in stages.
“The stablecoin bill has already cleared the Senate Banking Committee,” Lummis added. “We’ve worked extensively with the minority party, and a Senate vote is expected shortly after the current recess.”
Meanwhile, the White House appears aligned with Lummis on crypto policy. Trump’s lead crypto adviser, David Sacks, recently confirmed that the GENIUS Act—a key stablecoin bill—has strong bipartisan momentum and is expected to pass following a major procedural win on May 19.
Short for the Guiding and Establishing National Innovation for US Stablecoins Act, the GENIUS bill is a broad legislative push to create a regulatory framework for stablecoins backed by U.S. dollars.
Stablecoins have become a central pillar of blockchain utility, with advocates arguing that their growth could reinforce the dollar’s global reserve status. Leading dollar-pegged tokens like Tether’s USDt and Circle’s USDC currently represent over 85% of the $250 billion stablecoin market, based on CoinMarketCap data.
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