Sen. Bill Hagerty said recently that the GENIUS Act, which would pave the way for stablecoin adoption, could bolster U.S. Treasuries.

If passed into law, the GENIUS Act would establish the first comprehensive federal rules for stablecoin issuance, transparency, and reserve requirements.

The U.S. Senate has passed the GENIUS Act, making regulated stablecoins a policy priority and hinting at fresh institutional crypto inflows.

Bitcoin surged to a record high on Thursday, vaulting more than 3% in early trading and hurtling past $110,000 for the first time. The price of bitcoin stood at $111,385 on Thursday, extending a sharp rise that stretches back to the November election of President Donald Trump, a cryptocurrency supporter and investor.

The GENIUS Act may pass the US Senate by May 26, setting regulatory clarity for stablecoins and accelerating institutional adoption of digital dollars.

Trump’s top crypto advisor David Sacks says the administration’s stablecoin bill is poised to pass with bipartisan support.

Stablecoin market capitalization is reaching the $250 billion mark. David Sacks hinted at a trillion-dollar opportunity with the GENIUS Act.