- Executives from Strategy, Fundstrat, MARA, and other institutions in crypto are meeting with legislators for a roundtable discussion focusing on the USA’s strategic Bitcoin reserve.
Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor, Fundstrat Global Advisors co-founder Tom Lee, MARA CEO Fred Thiel, and other executives in the cryptocurrency industry are reportedly meeting lawmakers this Tuesday. According to Cointelegraph, the move is in line with advancing a Bitcoin (BTC) reserve legislation in Congress.
Aligning with President Trump’s Bitcoin Reserve Vision
The roundtable discussion aligns with President Donald Trump’s Executive Order (EO), establishing a strategic Bitcoin reserve. However, it should be noted that the president’s version is limited to preventing the sale of the USA’s seized BTC assets, and does not mandate buying to top up the country’s digital asset reserves. The US government’s crypto wallet currently holds 198,021 BTC worth over $23.6 billion based on Arkham data.
For that reason, Senator Cynthia Lummis introduced the Bitcoin Act to “codify” Trump’s vision of using a strategic Bitcoin reserve to strengthen the nation’s economic foundation and ensure its dominance in the digital economy. Building on the president’s EO, the Wyoming senator’s bill also allows the US government, through the Treasury Secretary, to accumulate 1 million Bitcoin at a staggered purchase of 200K BTC annually in five years.
The source claimed that non-profit trade organization The Digital Chamber and its affiliate, The Digital Power Network, will host the event. The organization, founded in 2014, advocates the adoption of blockchain technology to foster a fair and inclusive digital financial ecosystem. It was notably instrumental in bringing the first-ever “Bitcoin Education Day” in Congress. From then on, it has sat with industry leaders, policymakers, and legislators to advance blockchain innovation and access.
What the Group Aims to Achieve
The report said the organizers aim to get the participants’ inputs regarding funding the planned purchases under the proposed strategic Bitcoin reserve without burdening taxpayers. Among the group’s key considerations is funding the accumulation through the country’s tariff revenues and the reintroduction of the Treasury’s gold certificates.
Furthermore, the group will look at the factors hindering the progress of the pending Bitcoin Act, including lawmakers’ objections. There’s no word whether Bitcoin mining is also on the table to capture BTC sustainably without putting strain on the national budget. But then again, given the attendance of MARA, Lee’s links with Bitmine, and the presence of other players in the crypto mining sector at the meeting, the matter may likely be raised one way or another.
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
