A newly reintroduced bill proposes the U.S. acquire 1 million Bitcoin in five years, as top industry executives meet lawmakers in Washington to push the plan forward.
As crypto regulation gains momentum in the U.S., Capitol Hill will host a pivotal roundtable this week. MicroStrategy co-founder Michael Saylor, Marathon Digital CEO Fred Thiel, and several other industry leaders are set to meet with lawmakers on Tuesday to discuss advancing the so-called BITCOIN Act.
Championed by Senator Cynthia Lummis and Representative Nick Begich, the bill calls for the U.S. to acquire 1 million Bitcoin over five years through budget-neutral strategies. Reintroduced in March, the proposal expands on a Trump-era executive order that prohibits the sale of government-held Bitcoin, aiming to elevate the asset to the status of a permanent strategic reserve, similar to gold.
Executives including Bitdeer’s Haris Basit, Riot’s Brian Morgenstern, and Cleanspark CEO Matt Schultz will also join the discussions. Meanwhile, industry lobbying group Digital Power Network is highlighting the bill’s potential for bipartisan support. For now, the legislation has only Republican backing and is expected to be reviewed by the Senate Banking Committee and House Financial Services Committee, though no official hearing date has been announced.
