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Strategy co-founder Michael Saylor and Fundstrat CIO Tom Lee are among crypto heavyweights who will meet US lawmakers today amid an industry push to quicken plans for a Strategic Bitcoin Reserve.
Eighteen crypto industry leaders, including MARA CEO Fred Thiel and Bitdeer’s Haris Basit will join the roundtable organized by The Digital Chambers and its affiliate, the Digital Power Network.
The meeting will focus on advancing Senator Cynthia Lummis’s BITCOIN Act, which is designed to establish the US Strategic Bitcoin Reserve and set rules for acquiring and managing government-held Bitcoin.
Hyped as a potential game-changer after President Donald Trump proposed it during his election campaign last year, the initiative for a Strategic Bitcoin Reserve has since slowed, leaving some in the crypto industry disappointed.
The Strategic Bitcoin Reserve represents a strategy for U.S. digital supremacy in the 21st century. In this presentation, I discuss why Bitcoin is critical to our nation’s prosperity and how America can become the global Bitcoin superpower. pic.twitter.com/5e6PpxSgzM
— Michael Saylor (@saylor) March 12, 2025
Also at the meeting will be CleanSpark executives Matt Schultz and Margeaux Plaisted, and MARA’s Jayson Browder. Executives from the crypto-focused venture capital firms Off the Chain Capital and Reserve One will also be in attendance, along with Andrew McCormick, the head of investment platform eToro’s US business.
Executives from the traditional finance space will include Western Alliance Bank’s David Fragale and Blue Square Wealth’s Jay Bluestine.
BITCOIN Act To Set Rules For Strategic Bitcoin Reserve
The BITCOIN Act aims to formally establish a US Strategic Bitcoin Reserve for Bitcoin, and seeks to set rules for how Bitcoin will be acquired, stored, and managed.
As part of the Act, the US would acquire 1 million Bitcoin over a five-year period, all of it to be maintained under the program for at least twenty years except in special circumstances.
The Act requires that Bitcoin be acquired in a budget-neutral way, meaning it must not be an additional cost to US taxpayers. Some of the funding strategies mentioned so far are the reevaluation of the Treasury’s gold certificates and tariff revenue.
.@SecScottBessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR.
America needs the BITCOIN Act.
— Senator Cynthia Lummis (@SenLummis) August 14, 2025
The BITCOIN Act builds on Trump’s March 6 executive order for the “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.”
Under the President’s order, the US government would build a strategic BTC reserve using Bitcoin held by the Department of Treasury that was forfeited via criminal or civil asset forfeiture.
US Government Holds Over 198K BTC
Data from BiTBO suggests the US government holds around 198,012 BTC as of Dec. 15 last year, mainly from law enforcement seizures.
Some of the largest seizures include the Bitfinex hack one, with 94,643 BTC seized from the hack’s orchestrators, Ilya Lichtenstein and Heather Morgan.
Another 69,370 BTC was seized from the Silk Road marketplace, while 15,085 BTC was seized from other Bitfinex hacks.
There is also 9,800 BTC that was seized from James Zhong, which was related to Silk Road as well.
With Bitcoin trading at $115,879.79 as of 1:42 a.m. EST, the government’s estimated holdings are valued at more than $22.93 billion.
BTC price chart (Source: CoinMarketCap)
The government’s Bitcoin holdings are an estimate because there has been no official disclosure of how much it actually holds. Some BTC are either still under sealed cases, still in transit, or are not yet fully accounted for, according to BiTBO.
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