U.S. President Donald Trump has thrown his support behind a bold plan to acquire one million Bitcoin through a bill reintroduced by Senator Cynthia Lummis. Speaking at the Bitcoin 2025 conference in Las Vegas, Lummis confirmed Trump’s endorsement of the BITCOIN Act, a sweeping piece of legislation that could reshape the U.S. government's approach to digital assets.

The BITCOIN Act outlines a five-year strategy for the federal government to purchase Bitcoin using existing funds from the Treasury and Federal Reserve, avoiding any new taxpayer burden. The White House is also reportedly working with a specialized team to craft comprehensive digital asset regulations, including frameworks for stablecoins and broader crypto market structures.

Lummis emphasized that these legislative efforts are gaining traction, stating that the stablecoin bill has already passed the Senate Banking Committee and could reach the Senate floor soon. The administration appears to be prioritizing stablecoin regulation first, followed by market infrastructure, and finally the Bitcoin reserve strategy.

In a parallel push, Trump’s crypto adviser David Sacks announced the GENIUS Act — a key bill aimed at regulating stablecoins — is set to pass with bipartisan support. GENIUS, short for the Guiding and Establishing National Innovation for US Stablecoins Act, would set clear rules for dollar-pegged digital currencies like USDC and USDt, which dominate over 85% of the $250 billion stablecoin market.

Industry supporters argue that regulated stablecoins could strengthen the U.S. dollar’s role as the world’s reserve currency, providing a digital on-ramp for global finance while securing America’s position in the emerging digital economy.