A striking company meets in Washington today. American politicians and leading players from the crypto sector join a round table discussion about the possible expansion of the strategic BitcoinReserve (BTC).
Buying one million bitcoin within five years is the goal. But can the government realize that without public money being involved?
Plans for large-scale Bitcoin purchases
Among those present are Michael Saylor, chairman of the listed strategy, and Tom Lee, CEO of research agency Fundstrat and chairman of the largest Ethereum-Treasury company, Bitmine. Fred Thiel, CEO of Mara, is also there. The meeting is organized by Lobby Group The Digital Chambers and its partner organization The Digital Power Network.
Central is the so -called Bitcoin Act, a bill by Senator Cynthia Lummis. She wants the US government to buy large -scale Bitcoin in the coming years and will considerably expand the current stock of around 200,000 BTC. The financing must be done according to a previously presidential decision of Donald Trump Budget neutral. That means that no extra tax money may be used.
Last month, the American Finance Minister Scott Bessent said that the strategic bitcoin reserve would only be supplemented with seized coins for the time being. A day later, however, he changed tone. On X he wrote that his ministry “is committed to exploring budget -neutral options to buy extra bitcoin and expand the reserve”.
The industry therefore presents ideas to make this possible. One of the suggestions is to re -appreciate the gold certificates of the Ministry of Finance. The use of tariff income from trade agreements is also mentioned.
Why is the Bitcoin Act standing still?
According to The Digital Chambers, the participants mainly want to understand why the bill has come to a halt in recent months. What objections do politicians play? And how big is the chance that the law will still be passed?
The success of the plan strongly depends on the political relationships in the congress. Although there is growing support for more regulation and integration of crypto in the financial system, the question remains whether it is realistic that the US can buy a million bitcoin without burdening the state treasury.
With the Bitcoin price currently above $ 115,000, such a purchase would cost more than $ 100 billion. The plan raises the question of whether this is a smart investment or too great a risk for the government.
Source: https://newsbit.nl/1-miljoen-bitcoin-kopen-michael-saylor-en-tom-lee-aan-tafel-in-washington/
