tl;dr
Crypto leaders are pushing U.S. lawmakers to establish a national Bitcoin reserve through the BITCOIN Act, which aims to acquire one million Bitcoin over five years. Industry figures like Michael Saylor and Charles Hoskinson are advocating for the legislation, inspired by Trump's 2023 executive orde...
**Crypto Leaders Push for U.S. Strategic Bitcoin Reserve as BITCOIN Act Gains Momentum**
In a bold move that could reshape the U.S. financial landscape, leading figures from the cryptocurrency world are rallying lawmakers to establish a national Bitcoin reserve. On Tuesday, a coalition of industry heavyweights—including MicroStrategy’s Michael Saylor, Marathon Digital’s Fred Thiel, and Cardano’s Charles Hoskinson—will meet with Republican lawmakers Sen. Cynthia Lummis and Rep. Nick Begich to champion the BITCOIN Act. The legislation aims to position Bitcoin as a strategic reserve asset, mirroring how the U.S. treats gold, and could mark a seismic shift in how the government views digital assets.
The BITCOIN Act, short for the *Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide* bill, proposes that the federal government accumulate one million Bitcoin over five years using “budget-neutral strategies.” Supporters argue that such a reserve would bolster national security, hedge against inflation, and solidify the U.S.’s leadership in the global digital economy. The plan draws inspiration from President Donald Trump’s 2023 executive order, which directed seized Bitcoin from criminal cases to be held in a permanent fund rather than sold. Lummis’ bill expands this principle, turning Bitcoin from a tool for law enforcement into a deliberate national asset.
The push comes as the crypto industry continues to gain traction in Washington. The roundtable, hosted by Lummis and Begich, is part of a broader effort to frame Bitcoin as a bipartisan priority. Hailey Miller of the Digital Power Network, a group aligned with the Digital Chamber, emphasized the bill’s potential to unite lawmakers: “Our real push is to ensure that the BITCOIN Act and a strategic Bitcoin reserve remain a priority.” A one-page briefing circulated at the event positions the bill as a “bipartisan opportunity,” highlighting its economic and security benefits.
Yet challenges remain. The bill currently has support only from Republican lawmakers, with no Democratic endorsements to date. For it to advance, it must secure hearings before the House Financial Services Committee and Senate Banking Committee—panels that have yet to schedule formal discussions. Still, the recent passage of the first-ever stablecoin regulation this summer signals growing congressional willingness to integrate digital assets into the formal financial system.
Industry leaders see the BITCOIN Act as a gateway to broader crypto adoption. Cardano’s Hoskinson, who confirmed his attendance with a terse “See everyone in DC tomorrow,” and other executives like Bitdeer’s Haris Basit and Riot’s Brian Morgenstern, are betting that a national Bitcoin reserve could unlock new avenues for innovation. Critics, however, question the feasibility of accumulating such a vast amount of Bitcoin without destabilizing markets or raising ethical concerns about government control over private assets.
As the debate unfolds, one thing is clear: the U.S. is at a crossroads. Will it embrace Bitcoin as a cornerstone of its financial strategy, or will the bill stall in a politically divided Congress? The outcome could determine whether the U.S. leads the next wave of global economic transformation—or lags behind as other nations seize the opportunity.
What do you think? Should the U.S. treat Bitcoin like gold, or is this a risky move for taxpayers? Let us know.