- The BITCOIN Act proposes U.S. acquisition of one million bitcoins over five years.
- A Capitol Hill roundtable will address next steps and bipartisan support for the bill.
- The initiative builds on Trump’s executive order creating permanent government-held bitcoin reserves
A coalition of lawmakers and cryptocurrency executives is moving forward on Capitol Hill with a proposal to establish a U.S. strategic bitcoin reserve. The initiative, backed by Senator Cynthia Lummis and Representative Nick Begich, comes at a time when Congress is expanding its focus on digital asset regulation. The proposal would involve acquiring one million bitcoins for national reserves over a five-year period.
Roundtable Scheduled in Washington
According to a Bitcoin Magazine post on X, more than a dozen industry advocates will join a roundtable discussion on Tuesday morning in Washington. Senator Lummis and Representative Begich, both Republicans, will host the meeting. Executives including Michael Saylor, co-founder of Strategy , and Fred Thiel, CEO of Marathon Digital Holdings, will participate.
Hailey Miller, director of government relations and public policy at the Digital Power Network, confirmed the purpose of the session. She said the discussions will concentrate on advancing the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act,” also known as the BITCOIN Act .
Other participants include Haris Basit of Bitdeer, Brian Morgenstern of Riot, and Matt Schultz of Cleanspark. Republican lawmakers are expected to attend, signaling growing attention to the bill within conservative circles.
Provisions of the BITCOIN Act
The BITCOIN Act was reintroduced in March by Senator Lummis. If enacted, it would establish bitcoin as a strategic reserve asset. The bill calls for the U.S. to purchase one million bitcoins within five years. Acquisitions would be conducted through “budget neutral strategies,” according to the bill’s text.
The measure builds upon an executive order issued under President Donald Trump. That order created a framework for permanent government-held bitcoin reserves, modeled after the nation’s gold holdings. It also prohibited the sale of forfeited digital assets, placing them in a dedicated federal stockpile. The bill currently sits before the House Financial Services Committee and the Senate Banking Committee. Neither committee has scheduled a hearing on the measure at this stage.
Legislative Context
The push for a strategic reserve follows recent progress in digital asset legislation. This summer, lawmakers passed a bill regulating stablecoins, marking the first crypto-specific legislation enacted at the federal level. Attention now shifts toward broader regulatory measures, with the BITCOIN Act positioned as a priority for some advocates.
Miller stated that Digital Power Network will distribute a briefing document during the roundtable. The document frames the initiative as a bipartisan opportunity, even though current support comes only from Republican lawmakers. Discussions are expected to address next steps and potential avenues for securing broader backing.
