BITCOIN Act in Focus as Industry Executives and Lawmakers Convene in Washington

Strategy co-founder Michael Saylor, Marathon Digital Holdings CEO Fred Thiel, and other leading figures in the crypto industry are set to gather on Capitol Hill today to push for legislation that could create a U.S. strategic bitcoin reserve.  

Roundtable Scheduled with Lawmakers

The event, scheduled for Tuesday morning, will be hosted by Sen. Cynthia Lummis and Rep. Nick Begich, Republican cosponsors of the BITCOIN Act. More than a dozen industry executives are expected to attend, including Strategy co-founder Michael Saylor, Fundstrat CEO Tom Lee, Cardano founder Charles Hoskinson, Bitdeer Chief Strategy Officer Haris Basit, Riot’s Senior Vice President of Public Policy Brian Morgenstern, and Cleanspark CEO Matt Schultz.

The roundtable is being organized by The Digital Chamber and its affiliate, the Digital Power Network (DPN). Hailey Miller, DPN’s director of government relations and public policy, underscored the central objective: 

The Bill’s Foundation and Scope

The BITCOIN Act, formally titled the "Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act," was reintroduced by Sen. Lummis in March. The bill expands on an executive order signed earlier this year by President Donald Trump, which requires that bitcoin and other digital assets seized through criminal or civil proceedings be held in a permanent government fund.

The proposed legislation goes a step further, directing the Federal Reserve and Treasury to purchase one million bitcoins using budget-neutral methods. Options floated include reassessing Treasury gold certificates and using tariff revenues, ensuring that the purchases do not burden taxpayers.

Key Goals for Today’s Meeting

Industry executives are expected to press lawmakers on what has hindered the bill’s progress over the past six months and to identify objections that have stalled momentum. Supporters will also pitch bitcoin as a bipartisan priority, framing it as critical for national security and U.S. economic competitiveness.

Miller highlighted the urgency: 

Political Landscape and Next Steps

Currently, the bill has backing only from Republican lawmakers, with no Democratic support. For the legislation to advance, hearings before the House Financial Services Committee and Senate Banking Committee will be required, though no dates have yet been scheduled.

To reinforce the bipartisan case, DPN plans to circulate a briefing that presents the legislation as a “bipartisan opportunity.” Advocates hope today’s session will help build a broader coalition around the bill.

The roundtable could mark a pivotal step in determining whether momentum for the BITCOIN Act can be revived. While challenges remain, industry leaders are expected to make their strongest case yet for establishing a U.S. strategic bitcoin reserve.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice