Senator Lummis announces that Trump allegedly advocates for a bill that requires the U.S. administration to buy a million Bitcoins.

headline: The BITCOIN Act: The U.S. Government Buys a Million Bitcoins? tagline: Let's delve into the latest crypto news and see if this claim is true or just another wild rumor.

intro:Hey there, crypto enthusiasts! The world of Bitcoin and other digital assets is heating up, and rumors are circulating that the U.S. government is planning to buy a million Bitcoins. But let's separate fact from fiction, shall we?

Senator Cynthia Lummis' BITCOIN Act

Senator Cynthia Lummis (R-WY) introduced the BITCOIN Act (S. 954) in March 2025, which has been causing a stir in the cryptocurrency community. If passed, this bill would establish a decentralized network of Bitcoin vaults operated by the Department of the Treasury. While the BITCOIN Act does propose a one-million-unit Bitcoin purchase program for the U.S. government, it's essential to understand that this would only allow the government to control approximately 5% of the top crypto asset's supply.

Senator Lummis' Support and Motivations

In a speech this week, Senator Lummis expressed her gratitude for President Donald Trump's support of the BITCOIN Act. Lummis sees the potential legislation as a solution to the U.S.'s $36 trillion debt and a way to secure the country's position as a global leader in financial innovation. She believes that Bitcoin's use will make the entire system more secure, robust, and capable of serving our needs around the world.

Regulatory Landscape and Scope of the BITCOIN Act

It's essential to clarify that the BITCOIN Act, as of early May 2025, mainly focuses on stablecoins and their regulatory supervision rather than direct government investment in Bitcoin. The bill is part of a broader legislative effort in the U.S. Senate to regulate and integrate cryptocurrency markets, including national Bitcoin policy and stablecoin frameworks.

State-level Initiatives

At the state level, recent developments show a distinct move toward Bitcoin adoption, with New Hampshire becoming the first U.S. state to allow its state treasurer to invest in digital assets like Bitcoin. This legislation enables the creation of a strategic Bitcoin reserve (SBR), allowing the state to hold Bitcoin as a reserve asset if it chooses.

Federal Efforts

At the federal level, related but separate legislative pushes are underway, such as the "End Crypto Corruption Act of 2025," aimed at restricting government officials from promoting cryptocurrencies to fight perceived corruption. Federal efforts reflect ongoing regulatory attention and political caution without yet enabling direct U.S. government Bitcoin investment.

Conclusion:

While the BITCOIN Act is progressing legislatively and could influence the regulatory environment for Bitcoin and related assets, actual U.S. government investment in Bitcoin remains limited to state initiatives rather than federal policy at this time. However, as the world of cryptocurrency continues to evolve, it's essential to stay informed and keep an open mind!

Sources:[1] https://www.rollcall.com/news/politics/crypto-influence-over-congress-sighted-by-gop-era-ethics-officials-934689[2] https://cryptonews.com/news/senator-josh-hawley-proposes-anti-crypto-corruption-act-2025-to-prevent-government-officials-from-promoting-their-personal-crypto-holdings-36177.htm[3] https://www.coindesk.com/bill-to-regulate-stablcoins-seeks-to-keep-state-oversight- role[4] https://www.buybitcoinworldwide.com/legal/state/new-hampshire/[5] https://www.coindesk.com/lummis-pushes-senate-bill-bitcoin-treasury

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Always do your due diligence before making any high-risk investments in cryptocurrency or digital assets. The Daily Hodl participates in affiliate marketing and neither recommends the buying or selling of any cryptocurrencies or digital assets nor acts as an investment advisor.

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In the wake of the BITCOIN Act, altcoins might face increased scrutiny as the U.S. government's potential investment in Bitcoin could steer the focus towards other cryptocurrencies and their regulatory supervision.
As the BITCOIN Act develops, the political landscape of cryptocurrency could be significantly influenced, potentially impacting not only Bitcoin's dominance but also the overall direction of the cryptocurrency market, including altcoins.

U.S. Government Purchase of Over a Million Bitcoins Backed by President Trump, According to Senator Cynthia Lummis

U.S. Administration Considering Purchase of One Million Bitcoins as Suggested by Senator Cynthia Lummis, Backs Trump

U.S. President Donald Trump backs proposal for federal government to acquire a million Bitcoin, as stated by Senator Cynthia Lummis.

Senator Lummis announces that Trump allegedly advocates for a bill that requires the U.S. administration to buy a million Bitcoins.