Trump-Backed $1B Bitcoin Bill Nears Reality—Senator Lummis Drops Bombshell

Washington just got a lot more bullish on crypto. A landmark bill proposing a $1 billion Treasury Bitcoin purchase—reportedly backed by former President Trump—is gaining steam, according to Senator Cynthia Lummis.

The move would mark the US government’s biggest embrace of Bitcoin as a reserve asset. Critics call it political theater, but crypto markets are already pricing in the hype.

Because nothing says ’sound monetary policy’ like turning the Treasury into a degenerate crypto hedge fund.

“President Trump supports the bill,” she said. Lummis added, “And he has a team in the WHITE House working on digital assets — everything from stablecoins to market structure to Bitcoin Strategic Reserve.”

Lummis acknowledged that state-level interest is growing fast. “So you have Arizona, Texas and New Hampshire that passed Strategic Bitcoin Reserve bills this year,” she said, 

She also noted that that other countries are getting involved too. “30 states consider Strategic Bitcoin Reserves. We have the United Arab Emirates purchasing Bitcoin through American exchange traded funds — that’s good for America,” 

Senator Marsha Blackburn backed Lummis with some words that U.S. leadership could set the trend globally. “Many of our allies follow what we do,” Blackburn said. “Everybody wants to be a part of our market, they want to be a part of our trade. And they will follow what we do.” She said countries are already setting up their own bitcoin reserves and that the U.S. should act fast.

Senator Justice added that Bitcoin will catch on faster once everyday people begin using it for basic purchases. “We have got to get the economics right,” he said. He further added, “When the average, everyday person is using Bitcoin to purchase their necessities… legislation will start happening at light speed.”

Lawmakers in Texas passed Senate Bill 21 on May 21 for the creation of a state-run Bitcoin reserve. The bill was passed to Governor Greg Abbott who has ten days to sign it or let it become law without signing. Other states like North Carolina have indeed followed. New Hampshire approved its Bitcoin reserve bill on May 7, becoming the first U.S., stake to pass the bill into law. 

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