Trump’s Support for Bitcoin Act: A Game Changer for Digital Assets

US President Donald Trump has come out in support of the BITCOIN Act, a groundbreaking piece of legislation aimed at acquiring 1 million Bitcoin (BTC) over five years. Announced by Senator Cynthia Lummis at the recent Bitcoin 2025 conference in Las Vegas, this initiative marks a significant policy shift towards embracing digital assets in the United States.

Lummis stated, “I am bringing the BITCOIN ACT to the attention of the American people and the world,” while asserting that Trump’s administration has assembled a dedicated team to handle issues related to digital assets. This legislation not only seeks to boost Bitcoin reserves but is also set to pave the way for the creation of a formal framework overseeing stablecoins and overall market structure.

One of the notable components of the BITCOIN Act is its funding mechanism. The acquisitions are proposed to be financed through the existing funds within the Federal Reserve System and the Treasury Department. This approach places emphasis on budget-neutral solutions, aiming to prevent any financial burden on taxpayers during the acquisition process.

As Lummis elaborated, the planned rollout of digital asset legislation will proceed in a prioritized manner: “They will probably roll out in that order.” Key legislative actions include stablecoin frameworks and the establishment of a Bitcoin Strategic Reserve. The stablecoin legislation has already gained traction, recently being passed out of committee by the Senate Banking Committee.

The upcoming weeks could prove decisive, as Lummis anticipates voting on the stablecoin bill soon after the Senate reconvenes. This legislative push signifies a collaborative effort, with extensive negotiations held with both political parties to ensure bipartisan support. The White House appears aligned with this initiative, evidenced by comments from David Sacks, Trump’s top crypto adviser, who expressed confidence that the GENIUS Act—a comprehensive framework for stablecoins—will also garner the necessary votes to pass.

The increasing prominence of stablecoins cannot be overstated, as they represent the potential to reinforce the US dollar’s status as the world’s reserve currency. Major players in this market, like Tether’s USDt and Circle’s USDC, account for over 85% of the $250 billion market. The successful implementation of the BITCOIN Act and other related bills will not only reshape the landscape of digital currency in the US but could also have far-reaching implications for the global financial ecosystem.

In summary, Trump’s endorsement of the BITCOIN Act is set to catalyze a seismic shift in how digital assets are regulated and acquired in the US, heralding a new era for cryptocurrencies and potentially influencing global market dynamics.

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