A push to make bitcoin part of America’s national reserves gained traction this week as lawmakers and digital assets industry leaders met in Washington, D.C. for a series of roundtables.
At the center of the discussions was the BITCOIN Act, a bill that would have the U.S. acquire up to 1 million bitcoin over the next 5 years and create a permanent Strategic Bitcoin Reserve.
The meetings, held Tuesday and Wednesday, brought together top Republicans in Congress and some of the biggest names in the Bitcoin and digital assets space.
Attendees included Sen. Cynthia Lummis (R-WY), Sen. Ted Cruz (R-TX), Sen. Bernie Moreno (R-OH), Sen. Marsha Blackburn (R-TN), Rep. Nick Begich (R-AK), Rep. Pat Harrigan (R-NC), House Speaker Mike Johnson (R-LA), House Financial Services Chair French Hill (R-AR), and Majority Whip Tom Emmer (R-MN).
On the industry side, participants included Michael Saylor, co-founder of Strategy and one of Bitcoin’s biggest champions, Coinbase CEO Brian Armstrong, Marathon Digital CEO Fred Thiel, and other execs from mining and digital asset companies.
The meetings were hosted by advocacy groups like the Digital Chamber, the Digital Power Network, and the new Treasury Council.
The core proposal, outlined in the BITCOIN Act, would have the U.S. government build a strategic reserve of up to 1 million bitcoin, just like how gold has been held as a national reserve asset.
Supporters say this would strengthen America’s financial position and ensure the country is a leader in the future of digital assets.
“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,” said Hailey Miller, Director of Government Affairs at the Digital Power Network.
The bill, reintroduced by Sen. Lummis in March, builds on an executive order signed by President Donald Trump which first established the concept of a bitcoin reserve and barred the government from selling bitcoin seized in criminal or civil cases.
Lummis’s bill goes further — not just holding seized coins, but also buying more.
According to the proposal, the government could use “budget-neutral strategies” to fund the purchases, including revaluing gold certificates and earnings from Federal Reserve banks.
Related: US to Use Tariffs and Gold Revaluation to Build Bitcoin Reserves
Michael Saylor, whose company is the largest public holder of bitcoin with over 638,000 BTC, has been leading the charge. At the roundtable, Saylor said Bitcoin is more than just an investment.
“Bitcoin represents economic freedom,” he said, urging the U.S. to adopt it as a reserve asset to maintain global financial leadership.
Saylor also noted that Bitcoin is already changing the global financial system, and the U.S. must move fast if it wants to stay ahead.
Other executives, including Thiel and Tom Lee of BitMine, agreed and joined the Treasury Council in sending a letter to Congress to pass the bill. The letter said a bitcoin reserve would “hedge against systemic risks” and keep America at the top of the financial world.
The roundtables also showed growing support within the Republican Party. Speaker Mike Johnson said House Republicans will work “hand in glove” with the industry.
“We’re in this together,” Johnson said at a Bitcoin Voter PAC event after meeting with digital asset execs and lawmakers.
“(Congress) relies upon the insight and expertise (of the members of the industry) to be able to have policy that allows for further growth and advancement of the industry.”
