In a significant move for the cryptocurrency industry, US lawmakers are set to engage with a group of 18 influential executives, including Michael Saylor, the Executive Chairman of Strategy, and Tom Lee, CEO of Fundstrat, this Tuesday. The meeting focuses on advancing the Strategic Bitcoin Reserve initiative, presented by former President Donald Trump.
This gathering, organized by crypto advocacy group The Digital Chambers, aims to address the potential creation of a Strategic Bitcoin Reserve through the proposed BITCOIN Act. Introduced by Senator Cynthia Lummis in March, this legislation seeks to have the government procure one million Bitcoin (BTC) over the next five years, funded via budget-neutral strategies identified by the Federal Reserve and the Treasury Department. Trump’s executive order highlights the need for financing methods that do not impose burdens on taxpayers.
In this roundtable discussion, industry leaders will pitch strategies that could facilitate government Bitcoin purchases while maintaining budget neutrality. The Digital Chambers indicated that one of the primary objectives is to gather insights on past obstacles the BITCOIN Act has encountered and illuminate lawmakers’ concerns regarding the bill’s progression.
“The emphasis will be on finding ways to advance the Strategic Bitcoin Reserve without negatively impacting taxpayers,” noted a representative from The Digital Chambers. Proposed strategies include examining the potential of reassessing Treasury gold certificates and exploring tariff revenues as possible funding sources.
In attendance, in addition to Saylor and Lee, are several key figures from the Bitcoin mining sector, including CleanSpark executives Matt Schultz and Margeaux Plaisted, as well as representatives from other notable firms like MARA’s Jayson Browder and Bitdeer’s Haris Basit.
Furthermore, the roundtable will see participation from venture capital firms with a focus on cryptocurrency, such as Off the Chain Capital and Reserve One, alongside Andrew McCormick, who manages the US operations for investment platform eToro. Traditional finance will also be represented with leaders from Western Alliance Bank and Blue Square Wealth joining the discussions.
The discussions at this high-profile meeting are expected to play a critical role in shaping the future of Bitcoin legislation in the United States, particularly in light of recent efforts to pass the GENIUS Act, a stablecoin bill that has been under review since July.
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