The Bitcoin Reserve Bill is making headlines once again. At the Bitcoin Conference in Las Vegas, Senator Cynthia Lummis confirmed that lawmakers will soon turn their attention to this groundbreaking legislation—right after the stablecoin-focused GENIUS Act wraps up.
Lummis: Bitcoin Reserve Bill Is Next on the Agenda
Speaking on stage, Senator Lummis revealed that the U.S. Senate is preparing to debate the Bitcoin Reserve Bill. The bill, introduced by Congressman Nick Begich on March 11, 2025, proposes that the U.S. Treasury acquire up to 1 million Bitcoin over five years. These holdings would be secured in a government-backed Strategic Bitcoin Reserve.
If passed, this bill could shift the U.S. perspective on Bitcoin—from viewing it as a speculative asset to treating it as a strategic reserve. This move aligns with a recent executive order by President Trump, who directed the creation of a federal Bitcoin reserve.
Adding intrigue, journalist Eleanor Terrett reported that the government may already hold around 200,000 BTC. However, this number remains unconfirmed due to a classified audit ordered by the White House. Lummis mentioned she’s been offered a private briefing to clarify the situation.
Stablecoin Regulation Making Progress
While attention builds around Bitcoin, the Senate has already taken big steps toward regulating stablecoins. The GENIUS Act passed a cloture vote on May 21 with a 66-32 margin, moving it to the amendment phase.
Introduced by Senator Bill Hagerty, the GENIUS Act seeks to provide a clear legal framework for stablecoin issuers. It aims to reduce uncertainty while supporting innovation in digital finance. However, critics like economist Peter Schiff warn that stablecoins may divert capital from traditional financial markets and increase crypto speculation.
Bitcoin Conference Aims for World Record
The Bitcoin Conference in Las Vegas isn’t just about policy updates. Organizers announced plans to break a Guinness World Record for the most Bitcoin transactions at a single event.
Speakers like Rizzo and Marty urged attendees to get their wallets ready. The move is generating excitement, with many believing the event could trigger a short-term price surge in BTC.
As of now, Bitcoin is trading at $110,220, up 0.71% in the last 24 hours, according to CoinMarketCap.
