Lawmakers Meet Crypto Executives in Renewed Push for Bitcoin Reserve Bill

US lawmakers are set to convene with 18 crypto industry executives on Tuesday to discuss advancing President Donald Trump's Strategic Bitcoin Reserve initiative. The high-profile meeting, organized by The Digital Chambers and its affiliate The Digital Power Network, includes prominent figures such as MicroStrategy chairman Michael Saylor, Fundstrat CEO Tom Lee, and MARA CEO Fred Thiel. The gathering represents a significant push to build momentum behind Senator Cynthia Lummis's BITCOIN Act, which was introduced in March but has faced legislative hurdles over the past six months.

The BITCOIN Act calls for the US government to acquire one million Bitcoin over five years, with purchases funded through the Federal Reserve and Department of the Treasury using budget-neutral strategies. Industry executives plan to present funding mechanisms that wouldn't impact taxpayers, including proposals involving the reevaluation of Treasury gold certificates and tariff revenue. The legislation could become lawmakers' next major crypto focus following their successful passage of the GENIUS Act stablecoin bill in July.

Attendees will include representatives from across the crypto ecosystem, from Bitcoin mining companies like CleanSpark and Bitdeer to venture capital firms Off the Chain Capital and Reserve One. Traditional finance will also be represented through executives from Western Alliance Bank and Blue Square Wealth, highlighting the broad coalition forming behind the Bitcoin reserve proposal.

The roundtable aims to address key obstacles that have stalled the BITCOIN Act's progress and identify lawmakers' primary objections to the legislation. With Trump's executive order mandating budget-neutral financing for any Bitcoin purchases, industry leaders are focusing on demonstrating viable funding pathways that could secure broader congressional support for what would be a historic addition to America's strategic reserves.

Meanwhile, Representative David P. Joyce has introduced separate legislation requiring the Treasury Department to produce a comprehensive feasibility report on the Strategic Bitcoin Reserve within 90 days. The House appropriations bill mandates that the Treasury examine custody arrangements, legal authority, and cybersecurity measures for government-held digital assets, while also outlining how such assets would appear on federal balance sheets. The legislative push comes amid growing international competition, with Kazakhstan outlining plans for its own strategic crypto reserve and the Philippines considering accumulating 10,000 Bitcoin, as countries worldwide already hold over 517,000 Bitcoin representing 2.46% of the total supply.