Michael Saylor, co-founder of MicroStrategy, along with Marathon Digital Holdings CEO Fred Thiel and other significant cryptocurrency leaders, will meet with lawmakers in Washington, D.C. to endorse a historic initiative: the formation of a U.S. strategic bitcoin reserve.
More than a dozen of the crypto advocates will congregate on Tuesday on Capitol Hill at a roundtable sponsored by Senator Cynthia Lummis and Representative Nick Begich, Republican cosponsors of the legislation.
The bill seeks to permit the U.S. government to buy up to one million bitcoins, establishing a digital asset category that stands alongside gold within the United States’ strategic reserves.
The BITCOIN Act: A Strategic Reserve Proposal
In March, Senator Lummis put forth the BITCOIN Act for reintroduction, formally known as “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide.”
If enacted, this bill proposes the establishment of a federally recognized bitcoin reserve, which will accumulate over a five-year timeline through the use of “budget-neutral strategies.”
The legislation is an extension to former President Donald Trump’s executive order that established a permanent position of holdings of bitcoin for the United States and prohibits the sale of seized crypto assets.
The objective is to store these digital assets in a separate and secure area, like the country’s gold reserves, to safeguard and utilize bitcoin for the long term and during a time of financial or geopolitical turbulence.
Legislative Momentum and Growing Crypto Policy Agenda
The initiative for a U.S. bitcoin reserve comes as lawmakers increase their efforts to regulate digital assets.
On July 18th, the White House also endorsed three crypto-related bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Act, with the GENIUS Act now sent to President Trump for final approval, UnoCrypto reported.
In this context, these steps represent a growing awareness of crypto’s place in the financial markets.
Reports Hailey Miller, director of government relations at the Digital Power Network (DPN), “crypto advocates are committed to prioritizing the BITCOIN Act for legislation this fall,” despite a packed agenda regarding the regulation of digital assets.
Also Read: Senator Lummis Expects CLARITY And GENIUS Acts To Clear White House By Year-End
Industry Executives and Lawmakers Join Forces on Capitol Hill
The Capitol Hill round table will not only include Senator Lummis and Representative Begich, but also Republican lawmakers and some top executives from across the crypto industry.
Attendance will include Haris Basit, Chief Strategy Officer at Bitdeer, Brian Morgenstern, Riot’s Senior Vice President of Public Policy, and Matt Schultz, CEO of Cleanspark.
The Digital Power Network will share a briefing paper in the session, and the authors called the BITCOIN Act a “bipartisan opportunity” to secure America’s place in the global digital economy.
However, because it currently has only Republican support, there will be discussions about building a wider, bipartisan coalition in both the House Financial Services Committee and the Senate Banking Committee.
Global Trend Toward Sovereign Bitcoin Reserves
The idea for a national bitcoin reserve is not unique to the U.S.
On August 9th, former Justice Minister of Montenegro Andrej Milović proposed that Montenegro issue €500 million in bonds to establish a sovereign Bitcoin and Ethereum reserve with a value of $3–5 billion in five years, according to UnoCrypto.
Also, on August 22nd, we reported that lawmakers from the Philippines introduced House Bill 421, which proposes the creation of a strategic bitcoin reserve for the Philippines through the purchase of 2,000 BTC a year for five years.
Montenegro, the Philippines, and other countries such as Ukraine, Pakistan, and Brazil are interested in the idea, representing an emerging international consensus that bitcoin reserves may help to enhance national financial security.
The U.S. effort, led by Saylor, Thiel, and lawmakers in support, could represent the first major step in the world, internationally, to potentially alter the landscape toward sovereign strategies with bitcoin.
Also Read: Crypto Tax Clarity Hangs In Balance As Senate Debates Trump’s “One Big Beautiful Bill”