Michael Saylor partners with encryption executives to promote the United States' strategy of accumulating 1 million Bitcoins over five years.

Strategy co-founder Michael Saylor, Marathon Digital CEO Fred Thiel, and several high-ranking figures in the encryption industry will gather later on September 16 at Capitol Hill in Washington to participate in a roundtable hosted by Senator Cynthia Lummis and Congressman Nick Begich to promote the “Strategic Bitcoin Reserve Act.” If the bill is passed, the United States will accumulate 1 million Bitcoins as a national strategic reserve within five years.

Core of the Bill: Bitcoin Becomes a National Strategic Asset

Senator Lummis reintroduced the “Bill to Promote Innovation, Technology, and Competitiveness Through Optimizing National Investment” (referred to as the “Bitcoin Bill”) this March, aiming to establish Bitcoin (BTC) as a strategic reserve asset.

The bill is based on former President Trump's executive order, requiring the establishment of a permanent Bitcoin reserve similar to a gold reserve, and prohibits the sale of Bitcoin and other encryption assets in the reserve, unless forfeited through criminal or civil proceedings and returned to the government.

Five-Year Acquisition of 1 Million Bitcoins “Budget Neutral Strategy”

The bill plans to acquire 1 million Bitcoins over five years through a “budget-neutral strategy” to avoid placing additional burdens on the federal budget. This initiative is seen as a key step for the United States to establish a long-term strategic advantage in the digital asset space.

Hailey Miller, the Director of Government Relations for the Digital Power Network (DPN), stated that the initiative will become a priority issue in Washington, and after in-depth discussions with lawmakers during this week's roundtable meeting, the subsequent advancement path will be discussed.

Challenges of Collaboration Between Industry Leaders and the Two Parties

In addition to Saylor and Thiel, attendees of the conference included Haris Basit, Chief Strategy Officer of Bitdeer, Brian Morgenstern, Senior Vice President of Public Policy at Riot, Matt Schultz, CEO of Cleanspark, and other senior executives from the encryption industry.

Currently, the “Bitcoin Bill” has only received support from the Republican Party and has not yet been endorsed by Democratic Party members. Miller pointed out that the roundtable will discuss how to garner bipartisan support and emphasized that the bill is “an opportunity for bipartisan cooperation.”

Regulatory Background and Market Impact

This summer, the U.S. Congress passed the first specialized encryption bill targeting stablecoins, laying the groundwork for subsequent comprehensive regulation of the encryption industry. As legislators shift their focus to broader encryption regulation, the “Strategic Bit Reserve Act” is seen as the next focal point.

If the bill is approved, it will not only provide long-term support for the price of Bitcoin but may also trigger other countries around the world to follow suit in establishing national-level digital asset reserves, further changing the international financial landscape.

Conclusion

The “Strategic Bitcoin Reserve Act” promoted by Michael Saylor and several senior figures in the encryption industry is not only an important milestone in the United States' digital asset policy but also could become a key opportunity for Bitcoin to enter the national strategic level. As discussions in Washington heat up, the market will closely watch whether the act can gain bipartisan support and ultimately be implemented.