Michael Saylor, Crypto Executives Meet to Push for Strategic Bitcoin Reserve Bill

Strategy co-founder Michael Saylor and crypto executives met to advocate for the Strategic Bitcoin Reserve bill, the BITCOIN Act. The bill proposes that the U.S. purchase up to 1 million BTC over five years for its reserve.

Saylor and Crypto Executives Push For Strategic Bitcoin Reserve Bill

A CNBC report confirmed that 18 industry members met on Capitol Hill today to discuss the Bitcoin bill in a roundtable that Digital Chambers organized. Stakeholders present included Saylor, BitMine’s Chairman Tom Lee, and Marathon Digital CEO Fred Thiel.

The Strategic Bitcoin Reserve bill aims to codify Trump’s executive order that established the BTC reserve. It further proposes that the U.S. acquire up to 1 million BTC over the next five years. Senator Cynthia Lummis, who introduced the bill, proposes that the U.S. can revalue its gold certificates to acquire these coins.

Furthermore, the Senator believes this is a budget-neutral way to acquire more Bitcoin in line with Trump’s executive order. Meanwhile, it is worth noting that Treasury Secretary Scott Bessent already confirmed that America’s Bitcoin holdings are worth between $15 billion and $20 billion. This consists primarily of confiscated assets, which the U.S. plans to use to set up the reserve.

Ahead of the event, Saylor made a case for Bitcoin, stating that it represents economic freedom. He further remarked that they were at the event to advocate for the U.S. to embrace BTC by passing the Strategic Bitcoin Reserve bill.

The Strategy co-founder added that BTC is reshaping the global financial landscape and that the U.S. ought to benefit from and lead in it. Saylor and his company play a major role in the Bitcoin ecosystem, as Strategy is currently the largest public Bitcoin holder. It holds 638,985 BTC following a recent purchase of 525 BTC.

Digital Chambers Launches Treasury Council

Digital Chambers has announced the official launch of the Treasury Council to advance the push for the Strategic Bitcoin Reserve Bill. The inaugural members of the Council include Strategy’s CEO Phong Le, Fred Thiel, and Tom Lee, among others.

As part of the Council’s initial efforts, they sent a joint letter to Congress in support of the BITCOIN Act. In the letter, they stated that the bill strengthens U.S. monetary stability.

Furthermore, the Treasury Council stated that the bill will help hedge against systemic risks and reinforce America’s global leadership. Therefore, they urged the lawmakers to swiftly advance the Strategic Bitcoin Reserve bill through the committee stage and to the floor for passage.

Meanwhile, Congressman Pat Harrigan, who co-sponsored the bill, again voiced his support for the initiative. He noted that the bill secures up to one million BTC for the U.S. and that it strengthens the dollar, keeping the country at the forefront of financial leadership.