U.S. Set to Create $115 Billion Bitcoin Reserve: What’s Next?

TLDR

• The U.S. government plans to create a $115 billion Bitcoin Reserve through the BITCOIN Act.
• One million Bitcoin will be acquired over five years, with no taxpayer funds used.
• The Federal Reserve and the Treasury will finance the Bitcoin purchases using creative methods.
• Key figures in the crypto industry, including Michael Saylor and Tom Lee, strongly support the proposal.
• A roundtable discussion will be held to address concerns and present budget-neutral strategies.

U.S. lawmakers are preparing for a crucial meeting with major crypto industry figures to discuss the BITCOIN Act. The bill, proposed by Senator Cynthia Lummis, aims to establish a Bitcoin Reserve worth $115 billion. This reserve would consist of one million Bitcoin, acquired over the next five years. The proposal highlights the U.S. government’s intention to treat Bitcoin as a strategic asset, akin to gold.

Supporters Back the Bitcoin Reserve Proposal

The BITCOIN Act has gained strong support from key figures in the cryptocurrency industry. MicroStrategy’s Michael Saylor and Fundstrat’s Tom Lee are vocal proponents of the idea. Saylor expressed his approval, stating, “Bitcoin is the world’s ultimate store of value.” Advocates believe the plan will be budget-neutral, meaning no taxpayer money will be used to fund the purchases.

The initiative envisions financing the Bitcoin Reserve through the Federal Reserve and the Treasury. A key component of the plan is to use “creative financing” methods, including reevaluating Treasury gold certificates and utilizing tariff revenues. Proponents argue that such strategies can ensure the reserve strengthens U.S. financial security without increasing the national deficit.

Industry Leaders to Present Strategies at Roundtable

A roundtable discussion will take place soon to address concerns and refine strategies for the Bitcoin Reserve plan. The meeting, organized by advocacy groups The Digital Chambers and The Digital Power Network, will include influential crypto figures. Michael Saylor, Tom Lee, and representatives from companies like Marathon Digital, CleanSpark, and Bitdeer are expected to attend.

These industry leaders will present ideas on how to keep the Bitcoin Reserve budget-neutral. They aim to convince lawmakers that such a reserve could play a vital role in securing the nation’s financial future. The proposed Bitcoin Reserve would also give the U.S. the ability to hold a digital asset with significant potential for growth.

A New Era for U.S. Crypto Policy

The BITCOIN Act represents a bold shift in U.S. crypto policy. If passed, it would mark one of the most ambitious steps towards integrating Bitcoin into the nation’s financial infrastructure. The act follows the passage of the GENIUS Act earlier this year, which focused on stablecoins. This momentum shows that Bitcoin is now a priority in Washington’s agenda.

Despite growing support, not all voices are in favor of the proposal. Samson Mow, founder of JAN3, criticized the U.S., pointing out, “It’s absurd that the country which inspired others to build Bitcoin reserves hasn’t built one itself.” Still, with strong backing from the crypto industry, the U.S. government’s Bitcoin Reserve plan is gaining traction.

The post U.S. Set to Create $115 Billion Bitcoin Reserve: What’s Next? appeared first on CoinCentral.