A coalition of corporate Bitcoin (BTC) holders announced the first members of the Treasury Council on Sept. 16, positioning themselves as advocates for federal Bitcoin adoption.
The Treasury Council includes nine chief executives from companies holding Bitcoin in their corporate treasuries, led by Strategy CEO Phong Le, MARA Chairman Fred Thiel, and Riot CEO Jason Les.
The group sent a formal letter to congressional leadership endorsing the BITCOIN Act while over a dozen crypto advocates met with lawmakers on Capitol Hill.
Executive Director Merris Badcock described the coalition as “an exclusive leadership body” combining corporate executives and policymakers to advance crypto’s role in treasury strategy and global finance.
The Treasury Council’s formation reflects growing corporate confidence in Bitcoin treasury strategies.
Strategy holds over 440,000 BTC, while other members, including CleanSpark, American Bitcoin Corp, and Bitdeer Technologies, maintain significant positions.
Capitol Hill advocacy push
Over a dozen crypto advocates are meeting with lawmakers on Capitol Hill on Sept. 16 to discuss and advance a Strategic Bitcoin Reserve in a coordinated movement sponsored by The Digital Chamber, Digital Power Network, and the Treasury Council.
The group offers testimony and industry expertise to support legislative advancement.
According to a post by the Digital Power Network, Nick Begich, Pat Harrigan, Michael Rulli, Bernie Moreno, and Marsha Blackburn. All lawmakers present at the meeting have also cosponsored Senator Cynthia Lummis’ reintroduced Bitcoin Act.
The legislation requires the federal government to acquire up to one million Bitcoin over five years, currently valued at approximately $116.5 billion.
Funding through Fed reserves
The initiative would be funded through Federal Reserve net earnings and Treasury certificate adjustments based on gold holdings, with updated valuations covering costs. The bill mandates establishing decentralized Bitcoin storage facilities across the US.
All acquired Bitcoin must be held for at least 20 years, and Treasury Secretaries may not sell more than 10% of their holdings in any two-year period.
President Donald Trump signed an executive order on Mar. 6 establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, directing the federal government to retain forfeited crypto as a long-term store of value.
The order uses approximately 200,000 BTC in government custody as the foundation for the reserve.
Under the current executive order, the government will not actively acquire additional assets beyond seized Bitcoin, disappointing markets that expected immediate purchases.
Treasury Secretary Scott Bessent confirmed the administration seeks budget-neutral strategies to expand Bitcoin holdings without taxpayer costs.
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Source: https://cryptoslate.com/bitcoin-advocates-form-treasury-council-to-push-for-corporate-adoption-in-congress/
