U.S. President Donald Trump announced his full support for the BITCOIN Act, reintroduced by Senator Cynthia Lummis. The law proposes that the U.S. government purchase 1 million BTC within five years. These purchases are planned to be made using existing resources from the Federal Reserve System and the Treasury Department, without imposing additional burdens on taxpayers. 

Senator Lummis spoke at the Bitcoin 2025 Conference in Las Vegas. She stated that the Trump administration has formed an active team working on digital assets, focusing on topics such as stablecoins, market structure, and the BTC Strategic Reserve. Furthermore, Lummis declared: 

“I present the BITCOIN Act to the attention of the American people and the world,” adding, “President Trump supports the bill.” 

At the Bitcoin Conference, Lummis explained that the Trump administration has a team working on regulations for digital assets like stablecoins, market structure, and the Bitcoin Strategic Reserve. 

“These issues will likely be addressed sequentially,” she said. 

She also announced, “The Senate Banking Committee has approved the stablecoin bill.” 

“We are very close to bringing the bill to a vote. We have worked for hours to reach a consensus with the minority party. The vote must happen before this recess ends,” she added. 

In March 2025, Trump signed an executive order establishing the Strategic BTC Reserve, which includes about 200,000 BTC owned by the U.S. This reserve aims to strengthen the U.S.’s leadership in digital assets and enhance its economic security. 

If the BITCOIN Act is passed, the U.S. government will own about 5% of the total BTC supply. Additionally, stablecoins have become one of the most significant use cases of blockchain technology. Industry experts say stablecoins could enhance the dominance of the U.S. dollar as the world’s global reserve currency. 

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The Strategic Bitcoin Reserve Will Become Permanent!

On March 7, Donald Trump signed an executive order to create a national reserve using Bitcoin (BTC) assets seized in government criminal cases. The bill to be introduced by Donalds will ensure that this reserve cannot be reversed by future administrations through executive action.

If the bill becomes law, the US Strategic Bitcoin Reserve and Digital Asset Stockpile initiatives will be permanent and protected from executive interference.

A Strong Chance of Passing in the Senate

The bill will require at least 60 votes in the Senate and a majority in the House of Representatives. However, with Republicans holding a majority in the Senate and the rise of crypto-friendly policies, the chances of the bill passing are increasing.

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In a statement to Bloomberg, Byron Donalds said:

“For years, the Democrats waged war on crypto. Now is the time for Congressional Republicans to decisively end this war.”

According to Bitcoinlaws data, at least 23 US states have introduced bills supporting Bitcoin reserves. This shows the growing interest in integrating crypto into state-level fiscal policies.

A Pivotal Moment in US Crypto Regulations

The bill signals the US government’s intent to further integrate Bitcoin into its financial system.
Blockchain expert Anndy Lian stated, “This law gives Trump’s executive order a legal foundation and enables the government to take a clear stance on digital assets.”

If the bill passes, it is expected to reduce regulatory uncertainty and offer businesses and investors a clearer path forward. However, identifying the right funding mechanisms and custody solutions for the Bitcoin Reserve could be a challenge for the government.

The current plan does not mandate new Bitcoin purchases by the government. However, the US Treasury and Commerce Department are authorized to develop “budget-neutral strategies” to buy more Bitcoin, as long as there are no additional costs to taxpayers.

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Michael Saylor’s US Bitcoin Reserve Prediction Moves the Crypto Market

On March 8, 2025, Michael Saylor, CEO of MicroStrategy and a leading Bitcoin advocate, announced that the US Bitcoin Reserve could generate between $16 trillion and $81 trillion in wealth by 2045. This statement caused a significant stir in the crypto market, prompting investors to reassess their positions.

Following Saylor’s announcement, Bitcoin’s price quickly surged, reaching $87,450 at 14:30 UTC, a 7.5% increase. Trading volume also spiked, rising by 30% to 23.4 million BTC. This price increase also impacted other major cryptocurrencies; Ethereum rose 5.6% to $4,320, and Cardano increased 4.5% to $1.15.

On-Chain Data and Market Dynamics: Confidence in BTC Growing

On-chain data further supported the market’s optimism. The number of active Bitcoin addresses increased by 15% to 1.2 million, while the hash rate rose by 3% to 230 EH/s. The BTC/USD trading pair saw tighter liquidity with a 0.1% spread, down from the usual 0.2%.

These developments once again demonstrated the influence of key figures in the crypto space on the market. Saylor’s long-term predictions have bolstered investor confidence in Bitcoin’s future wealth generation potential, and it will be closely monitored how the market reacts in the coming days.

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On March 6, President Donald Trump signed an executive order officially establishing the US Strategic Bitcoin Reserve (SBR). According to this order, any Bitcoin obtained through criminal or civil asset forfeiture proceedings will be added to the reserve.

However, federal agencies must conduct a detailed audit to determine the exact amount of Bitcoin currently held by the US government.

November 2020: Silk Road Seizure (69,370 BTC)

On November 3, 2020, US authorities seized 69,370 BTC, marking the largest crypto seizure at the time, valued at $960 million.

The Bitcoin was confiscated from an unidentified hacker known as “Individual X”, who had stolen funds from the illicit online marketplace Silk Road. US officials traced these stolen Bitcoin through wallet addresses linked to Silk Road founder Ross Ulbricht before the platform was shut down in 2013.

In December 2024, a court rejected a motion to block the forfeiture of these Bitcoin, allowing the US Department of Justice to sell them. By that time, the value of 69,370 BTC had risen to $6.5 billion.

January 2022: Bitfinex Hack (94,636 BTC)

On January 31, 2022, US authorities seized 94,636 BTC from Bitfinex hacker Ilya Lichtenstein, after accessing his cloud storage account, which contained a file with 2,000 crypto wallet addresses and corresponding private keys.

The seized Bitcoin accounted for approximately 80% of the 119,754 BTC that Lichtenstein had stolen from Bitfinex.

Lichtenstein and his wife Heather Morgan managed to launder 25,111 BTC before authorities could intervene.

In late 2024, Lichtenstein was sentenced to five years in prison, while Morgan received an 18-month sentence. However, experts have noted that the stolen Bitfinex funds were only seized, not forfeited. As a result, these funds could potentially be returned to Bitfinex.

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March 2022: Second Silk Road Seizure (51,351 BTC)

In March 2022, US authorities seized 51,351 BTC from James “Jimmy” Zhong, another hacker linked to Silk Road.

Four months later, US officials discovered the Bitcoin hidden in an underground floor safe and a popcorn tin stored in Zhong’s bathroom closet. At the time, the 51,351 BTC was valued at approximately $3.38 billion, making it one of the largest financial asset seizures in US history.

The US Has Started Selling Seized Bitcoin

On March 14, 2023, the US government sold 9,861 BTC for $215.7 million, all of which came from the Zhong forfeiture case.

Although additional sales of seized Bitcoin were expected to take place in four separate batches throughout 2023, these sales never materialized.

In January 2025, the Department of Justice received approval to sell 198,109 BTC seized from Silk Road. However, the Biden administration did not act on this before Trump‘s inauguration on January 20.

The US Plans to Expand Its Bitcoin Reserve

While the Strategic Bitcoin Reserve will initially be funded only with forfeited BTC, the White House announced that the Commerce and Treasury Secretaries will explore ways to acquire more Bitcoin without incurring costs for US taxpayers.

Moving forward, Bitcoin held in the reserve will no longer be sold. White House AI and Crypto Czar David Sacks criticized the previous US administration for liquidating seized Bitcoin, arguing that the new approach signals a long-term commitment to Bitcoin ownership.

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Amid the memecoin frenzy surrounding the Official Trump (TRUMP) token, industry leaders presented an optimistic outlook for the establishment of a Bitcoin strategic reserve during the forum’s sole cryptocurrency-themed session.

Coinbase CEO Brian Armstrong reaffirmed that the idea of creating a Bitcoin reserve remains alive and well, adding:

“Senator Cynthia Lummis is actively pushing for this. The US government holds reserves in assets like gold and oil. However, Bitcoin should now be seen as the new gold standard.”

Central Banks Criticize Bitcoin as a Reserve Asset

The session included one non-crypto panelist, South African Reserve Bank Governor Lesetja Kganyago, who dismissed the idea of holding Bitcoin as a reserve. Kganyago emphasized South Africa’s focus on CBDCs (Central Bank Digital Currencies) and blockchain utility over Bitcoin’s value.

He stated:

“Why Bitcoin? If we consider it as a reserve, why not platinum, coal, or even strategic reserves of beef or apples?”

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In response, Armstrong highlighted Bitcoin’s superiority over gold:

“Bitcoin is provably scarce like gold but far more portable and divisible. It was the best-performing asset of the past decade. Central banks could start by holding 1% of their reserves in Bitcoin, but over time, this could surpass gold reserves.”

The Trump Effect and New Optimism for US Crypto

SkyBridge Capital founder Anthony Scaramucci noted that Trump’s presidency brought renewed optimism to the crypto industry. Reflecting on Trump’s speech at a Bitcoin conference, Scaramucci stated:

“It was clear that if Trump won, the crypto industry would see significant changes. Meanwhile, the Democratic Party failed to adopt a clear position, which contributed to their losses in the presidency, the House, and the Senate.”

Stellar Foundation director Denelle Dixon acknowledged the challenges posed by US regulations, which have driven the crypto industry to look abroad:

“Despite the regulatory environment, the demand for the US dollar made it impossible to ignore the American market.”

Armstrong concluded by emphasizing the impact of Trump’s presidency:

“The ‘Trump effect’ cannot be denied. His administration has brought fresh optimism and opportunities for the crypto industry to thrive in the United States.”

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“Bitcoin is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and we’ve seen increasing inflation,” Sen. Lummis noted rising inflation.

The Senator said, “So it would be of value to have a hard asset that backs the U.S. dollar and that grows in value instead of declining in value.”

Bitcoin Enthusiast

Lummis has been a long-time bitcoin enthusiast, allegedly purchasing her first coins in 2013, and has led front-stage efforts to enact laws tailored specifically for cryptocurrencies. After US President Donald Trump supported the sector this year, cryptocurrencies have become a hot political topic.

Lummis claims the measure would have the U.S. Treasury self-custody the bitcoins across “a variety of geographic locations.” Unless the tokens are sold to “reduce the debt,” Lummis stated that the government will retain those currencies for at least 20 years.

“We know from modeling the numbers and past experience with bitcoin that it is capable of being an absolute game changer for the mess the United States has gotten itself into with its debt and its deficits,” Senator Lummis remarked.

Seizure of Criminal Bitcoins

When asked, Lummis stated the U.S. Treasury should also seize the estimated 210,000 BTC the U.S. Department of Justice and other agencies have, mostly acquired through criminal seizures.

“We have a strategic oil reserve. We hold gold. So the idea of a strategic reserve used specifically to reduce the debt solves so many problems that it almost seems inherently obvious, but it’s nevertheless a big step,” Lummis said.

Sen. Lummis has proposed that the U.S. government purchase bitcoin before now. She discussed the possibility of bitcoin diversifying the Federal Reserve’s balance sheet in 2022. As per her most recent statutory reports, Lummis herself holds BTC valued at nearly $100,000.

Lummis said she is hopeful some crypto-specific legislation could pass this year—like the stablecoin bill she co-wrote with New York Senator Kirsten Gillibrand—but she does not think the bitcoin treasury reserve bill will be given any real thought until following the next elections.

“This is filed as a piece of legislation that people can review this year, developed in-house by my staff; it is not something I see passing this year,” Lummis said.

Legislative Talks

Likewise, Sen. Lummis mentioned she had been in talks with the still-being-developed crypto bill of Michigan Senator Debbie Stabenow. Though hopeful it might help close gaps in the current regulatory framework, she noted, “We’re running out of legislative days before the election.”

Lifelong Republican and Trump supporter Lummis claimed that the 45th president has basically opened the floodgates to the United States by embracing cryptocurrencies.

“President Trump was instrumental in drafting the language in the Republican Party platform. It includes opposing a central bank digital currency in the United States. It’s pro bitcoin mining, and he wants to keep America as the mothership for digital assets,” Senator stated.

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