Bitcoin heads towards the strategy 🇺🇸 – Saylor and cryptocurrency leaders gather to support the U.S. reserve bill
A plan that will allow the United States to create a reserve of one million Bitcoin (BTC) funded by prominent cryptocurrency entrepreneurs and lawmakers.
In Washington, D.C., cryptocurrency industry giants Fred Thiel (CEO of Marathon Digital Holdings), Michael Saylor (co-founder of MicroStrategy), and others gathered to support a new law proposing a "strategic Bitcoin reserve" for the United States. The discussion was hosted by Congressman Nick Begich and Senator Cynthia Lummis, who reintroduced the Bitcoin bill earlier this year.
One million Bitcoins will be obtained by the United States government over a period of five years under proposed legislation, which will consider Bitcoin (BTC) as a strategic reserve asset comparable to gold. It recommends "neutral budget strategies" as a means to achieve this goal, which is vital. A previous executive order from Trump established permanent holdings of digital currencies from seized assets, and this proposal expands on that.$SOL
Following the passage of the first major law regulating stablecoins, Congress is now preparing to enact more industry-wide regulations, stimulating this effort. The Digital Power Network (DPN) and others have argued that maintaining Bitcoin reserves as a top priority is essential to make the United States more competitive in the digital asset market.
Republicans have only shown support for this measure so far, which is now awaiting hearings in the Senate Committee on Financial Services and the House Committee on Financial Services. The current focus of legislators and directors is to gain support from both parties.
The discussion also included Harris Bast from Bitdier, Brian Morgenstein from Riot, and Matt Schultz from Cleanspark, among other prominent figures in the digital currency industry. Briefing materials were also presented by DPN, which portrayed the plan as a "bipartisan opportunity."
