Yesterday, Michael Saylor of Strategy, Tom Lee of Bitmine, and other leaders of the crypto industry met with lawmakers in Washington to promote the BITCOIN Act bill to create a strategic reserve in bitcoin.
The bill proposes to recognize bitcoin as a strategic reserve asset on a par with gold and involves the purchase of up to 1 million bitcoins over five years through “budget-neutral mechanisms.” It also establishes a ban on the sale of confiscated crypto assets, which will be accounted for in a separate state reserve.
The initiative has so far been supported only by Republicans and is under consideration. President Donald Trump has never publicly commented on it. The current “bitcoin reserve”, formed by his decree, consists exclusively of confiscated crypto assets and does not provide for their purchase.
According to the organizers, the purpose of the meeting is to consolidate the BITCOIN Act on the agenda of the Congress as one of the priorities of the autumn session.
