A new push to add bitcoin to America’s national reserves is gaining momentum after a high-profile series of roundtables in Washington, D.C. this week.
Lawmakers and leaders from the bitcoin industry gathered to discuss the BITCOIN Act, a bill aiming to have the US government acquire up to 1 million bitcoin over five years, establishing a permanent Strategic Bitcoin Reserve.
Key figures attend bitcoin reserve talks
The meetings brought together top Republicans including Sen. Cynthia Lummis (R-WY), Sen. Ted Cruz (R-TX), Speaker Mike Johnson (R-LA), and Rep. Tom Emmer (R-MN).
Industry leaders such as Michael Saylor of Strategy, Coinbase CEO Brian Armstrong, and Marathon Digital CEO Fred Thiel also participated, joined by advocacy groups like the Digital Chamber and the Digital Power Network.
Details of the BITCOIN Act
The BITCOIN Act, reintroduced by Sen. Lummis in March, builds on a prior executive order signed by President Donald Trump that established the idea of a bitcoin reserve and restricted the sale of seized coins.
The bill proposes not only holding seized bitcoin but also acquiring additional coins using “budget-neutral strategies” such as revaluing gold certificates and Federal Reserve bank earnings.
Support from industry and lawmakers
The proposal has strong backing from both lawmakers and industry.
Hailey Miller, Director of Government Affairs at the Digital Power Network, stated:
“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future.”
Michael Saylor added to the sense of urgency, stating:
“Bitcoin represents economic freedom.”
He emphasized the need for the US to move quickly to maintain leadership in the evolving financial landscape.
Political momentum grows
The roundtables highlighted growing Republican support. Speaker Mike Johnson told attendees:
“We’re in this together.”
He pledged that House Republicans would work closely with the industry to advance the bitcoin reserve initiative, underscoring the increasing alignment between policymakers and the bitcoin sector.
