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The first day of this year’s Bitcoin conference in Nashville delivered a strong political statement. President Donald Trump has officially supported a historic bill that would mandate the US government to construct a strategic reserve of one million Bitcoins. Wyoming Senator Cynthia Lummis announced the administration’s backing in a panel discussion with Senators Marsha Blackburn and Jim Justice.
‘The White House has a team of people that is focused on digital-asset matters, whether it’s stablecoins, market structure, or a federal Bitcoin reserve,’ Lummis said. She reported that the BITCOIN Act, which was refiled in March 2025, is now picking up real steam in Washington.
The legislative roadmap begins with the GENIUS Act, a stablecoin regulation framework. This act was recently cleared by the Senate Banking Committee. Lummis expects a floor vote in early June, followed by market structure reforms and, finally, the Bitcoin reserve plan. ‘We’re sequencing this deliberately,’ she noted, referencing bipartisan cooperation in drafting the bill.
Based on Fort Knox, the BITCOIN Act permits the US Treasury to purchase up to one million BTC in five years using budget-neutral means. With Bitcoin’s current value at $108,900, the reserve could be worth more than $108 billion, about 2.6% of the FY2025 discretionary spending.
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Lummis posed Bitcoin as a means of geopolitical power. ‘When China banned mining on Bitcoin, they assisted in the transfer of hash rate dominance to the US,’ she stated, echoing Trump’s recent appeal to make Bitcoin mining core American policy. She also disclosed that military command shares support for a Bitcoin reserve as a way to envision economic power as integral to national security.
Three American states, Arizona, Texas, and New Hampshire, have already legalized their own strategic Bitcoin reserve legislation, with dozens more debating similar bills. Internationally, the UAE is growing its exposure to Bitcoin via US-listed ETFs, and the Czech National Bank is considering Bitcoin as a reserve asset.
Aside from policy, Bitcoin is becoming entangled with the finances of the Trump family. Trump Media & Technology Group unveiled a $2.5 billion proposal to acquire Bitcoin, describing it as ‘an apex instrument of financial freedom.’ In spite of reporting a $38 million loss in Q1, the company is issuing stock and convertible bonds to finance the move.
With a bill in the works, public companies stockpiling BTC, and the president openly advocating for digital assets, Washington’s Bitcoin pivot is no longer theoretical; it’s reality.
