18 Crypto Industry Leaders, Including Michael Saylor and Tom Lee, Will Meet with US Congress to Promote BITCOIN Act and BTC Reserve.
US Congress to Discuss BITCOIN Act with Crypto Leaders
US lawmakers will meet this week with 18 leading crypto industry figures, including Michael Saylor, co-founder and chairman of Strategy, and Tom Lee, CEO of Fundstrat and chairman of BitMine.
The purpose of the meeting is to discuss ways to pass the BITCOIN Act, a bill by Senator Cynthia Lummis that would create a US Strategic Bitcoin Reserve. The document proposes that the government gradually purchase 1 million BTC over five years, financing it at no additional cost to taxpayers.
Budget-neutral strategies
According to the plan of the Donald Trump administration, Bitcoin purchases should be carried out through the Federal Reserve and the US Treasury using budget-neutral mechanisms. Possible ideas include reviewing Treasury gold certificates and using customs revenues.
Industry representatives plan to present their proposals and learn what has prevented the bill from moving forward in the past six months, as well as what the main objections are from congressmen.
Who will be present
In addition to Saylor and Lee, the following will join the discussion:
- Fred Thiel, CEO of mining company MARA;
- executives from CleanSpark, Bitdeer and other bitcoin mining players;
- representatives of venture funds Off the Chain Capital and Reserve One;
- Andrew McCormick of eToro US;
- bankers from Western Alliance Bank and Blue Square Wealth.
The organizers are The Digital Chambers and its affiliate The Digital Power Network, which promote legislative initiatives in the field of digital assets.
The Next Step in Crypto Regulation
Following the passage of the GENIUS Act in July, which regulates stablecoins, the BITCOIN Act could be a key piece of legislation in the development of the U.S. crypto market. If passed, the United States could cement Bitcoin’s role as a strategic asset on par with gold.
