The opening day of Bitcoin 2025 conference sent a clear political signal: President Donald Trump raised his weight behind the legislation, which would require the United States to accumulate a strategic reserve of 1 million Bitcoins. Wyoming Sen. Cynthia Lummis revealed the White House commitments during a strict meeting held on the main stage of the conference, while Sens. Marsha Blackburn and Jim Justice flanked.
Lummis sets a timeline for Bitcoin bills
“President Trump supports the bill, and he works in the White House with a team working on digital asset issues – everything from stablecoins to market structures to Bitcoin strategic reserves, they may launch in that order,” Loomis said.
Sequencing is important. Lummis confirmed that it would guide and build national innovation for the GENIUS bill, clearing the Senate Banking Committee before Memorial Day adjourns. She told the audience that the bipartisan negotiations produced texts acceptable to the minority, and she said: “We are close to getting ready to put it on the floor,” she said. “We should vote on this week of the break. Then we will do the market structure and then we will do the strategic reserve of Bitcoin.”
The revised Bitcoin bill is based on the form of U.S. gold holdings, which was first introduced in July 2024 and re-enacted on March 11, 2025, authorizing the U.S. Treasury to use a “budget neutral” mechanism to purchase up to 1 million BTC over five years and use the Fed and exchange-stabilized funds to purchase. The spot price on Wednesday was about $108,900, and the position was worth about $108.9 billion, accounting for 2.6% of the fiscal year 2025 discretionary budget.
Lummis will reserves be both energy and safety necessary. “When China bans bitcoin mining, they have helped the United States a lot because a lot of mining industries are here,” she said. She believes that pairing domestic hash rate advantages with federal accumulation will bring “geopolitical advantages” to Washington.
She added that this view was shared by senior uniform officials. “I have spoken to generals in our army and they understand that economic power is as important as military power in speaking to invaders around the world – and there are some generals… they are major proponents of strategic Bitcoin reserves for this reason.”
The momentum at the state level is strengthening federal impetus. Arizona, Texas and New Hampshire enacted their own strategic reserve regulations this year, with lawmakers in 30 other jurisdictions debating similar measures. “States are where innovation takes place,” Loomis said, positioning local initiatives as policy laboratories that can be expanded rapidly.
Abroad, the United Arab Emirates are establishing exposures through US-listed live ETFs, while the Czech National Bank is studying BTC as a reserve. She added: “This is good for the United States because they will build their own sovereign wealth in Bitcoin through U.S. ETFs.”
Although the White House issued an executive order on March 7 directing agencies to lay the foundation for federal Bitcoin stocks, only Congress can afford to fund appropriately or modify debt management regulations, a barrier the Bitcoin Act is intended to clear. With the Stablecoin framework expected to hold floor votes in early June, the market structure legislation lined up behind it, Lummis told delegates to keep mobilizing. “At that time, we will call on you to help members of your state understand the importance,” she said.
For now, the road to a trillion Satosi reserve runs through the Senate cloakroom. But the change in political optics is: a current president endorsed the accumulation of federal bitcoin, the Pentagon quietly blessed the concept, and three U.S. states have already legislated some of the blueprints.
At press time, BTC traded at $108,905.
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