The Bitcoin Act envisions the U.S. government purchasing one million Bitcoins over the next five years. These acquisitions would be budget-neutral, financed by the Federal Reserve and the Treasury Department. The bill, led by Senator Cynthia Lummis, also aims to make Trump’s limited presidential reserve permanent and Congress-approved. 

Roundtable and Participants 

The meeting on Tuesday will include Strategy founder Michael Saylor, BitMine CEO Tom Lee, and Marathon Digital CEO Fred Thiel. Executives from mining companies such as CleanSpark, MARA, and Bitdeer will also participate. Representatives from crypto venture capital firms and investment platforms will share their insights. 

Participants will discuss how to execute budget-neutral Bitcoin purchases and strategies to secure legislative support. Treasury gold certificates and tariff revenue reuse are among the proposed methods. 

Strategic Reserve and Legislative Process 

Proposals from the meeting aim to plan Bitcoin purchases at 200,000 BTC per year over five years. The bill is expected to first go through the House Financial Services Committee, then the Senate Banking Committee, before a full vote. Washington-based lobbying groups like The Digital Chamber will also attend. The goal is to strengthen the Strategic Bitcoin Reserve without burdening U.S. taxpayers and secure bipartisan support. 

Key Points of the Bitcoin Act: 

• Acquisition of one million Bitcoins as a strategic reserve 
• Annual purchases of 200,000 BTC over five years 
• Budget-neutral financing without taxpayer burden 

The bill is currently at the committee level, with further work ongoing to pass it through Congress. Experts say Lummis and her team will prioritize securing bipartisan support. 

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“In the last 11 months, we’ve witnessed developments no one imagined. The White House has officially embraced Bitcoin. That alone is extraordinary,” said Saylor.

He went on to highlight that Donald Trump’s presidential win in November 2024 brought a complete shift in U.S. crypto policy.

“We hoped for a pro-Bitcoin president—but we didn’t expect a strategic Bitcoin reserve, nor did we expect to hear the U.S. declare itself the Bitcoin superpower of the world,” he added.

U.S. Paves the Way With Crypto-Friendly Legislation

Saylor also pointed to three major crypto-related bills gaining traction in the United States:

• Genius Act, focused on stablecoins
• Digital Asset Market Clarity Act
• Bitcoin Act

These legislative moves mark a stark contrast from a year ago, with multiple U.S. states now actively embracing Bitcoin.

Strategy’s BTC Holdings: 592,100 Bitcoin

While making these bold claims, Strategy continues to stack Bitcoin, most recently adding $1 billion worth of BTC to its reserves. As of June 15, 2025, the company holds 592,100 BTC.

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Despite the massive holdings, Saylor has declined to provide public proof-of-reserves, citing security risks. His stance on self-custody—previously critical—has softened in recent months. In October 2024, he clarified that he supports self-custody for those “willing and able.”

Self-Custody and Open Source Shine at BTC Prague

The BTC Prague 2025 event brought together over 5,000 attendees, including developers, crypto enthusiasts, and newcomers. According to Danny Sanders, Chief Commercial Officer at Trezor, the dominant themes were open-source innovation and individual asset sovereignty.

“BTC Prague continues to attract a deeply Bitcoin-focused community, with a strong interest in the future of self-custody,” Sanders said.

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At Capitol Hill, Lummis stated:
“Default collapses everything. The system is built on trust. If we fail to pay our debts, trust vanishes.”
She highlighted the dollar’s fragility:
“How we price assets matters. But that measure is bending. When it does, prices rise even if real value doesn’t. My advice? Buy real assets or get left behind.”

She outlined three scenarios: total bankruptcy, printing money for hyperinflation, or salvation through crypto and technology. In January 2025, Treasury Secretary nominee Scott Bessent told a Senate hearing that removing the debt ceiling isn’t simple.
“If confirmed, I won’t let the US default,” he said, adding he’d follow Trump’s orders if instructed. However, he compared the debt ceiling to a car’s parking brake:
“Without it, you can still brake, but you lose a feature.”

Bitcoin as a Solution to the Debt Crisis

Lummis champions Bitcoin’s deflationary nature as a way to strengthen the economy.
“If money printing continues, the dollar will collapse. We’ll see hyperinflation like Zimbabwe or the Weimar Republic. Rent, gas, and food prices will soar while wages stagnate. That’s not the future I want for Americans,” she said.

She praised Bitcoin, stating:
“Technology boosts productivity and cuts costs. It lets us grow faster than our debt.”
Lummis pointed to artificial intelligence, robotics, and crypto as examples of this shift.
“These aren’t trends; they’re tools. They’re the only real weapons we have,” she said.

Meanwhile, Michael Saylor claims the bill could balance $16 trillion in debt. States like Pennsylvania and Texas are exploring Bitcoin reserves. At the Bitcoin 2025 conference, Lummis will discuss the bill’s impact. The crypto market is debating whether the bill could spark financial innovation.

Bill Details and Economic Chaos

The bill proposes that the Treasury purchase Bitcoin using Federal Reserve profits. The Bitcoin holdings would be auditable via a transparent blockchain. Senators Jim Justice and Tommy Tuberville support the bill. Trump’s executive order aims for budget-friendly growth of the reserve, while the Treasury grapples with the debt ceiling crisis.  On April 30, the Treasury Borrowing Advisory Committee warned that the current system creates “volatility, high costs, and threats to the dollar’s global status.”

The Treasury has been depleting cash reserves since February. The Congressional Budget Office predicts borrowing options could run out by August. Lummis cautioned that the dollar could lose power, like the British pound:
“It didn’t vanish; it just lost its strength.”

Bessent’s remarks and Lummis’s call for real assets underscore the bill’s urgency.

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Trump’s crypto advisor Bo Hines stated that this strategy, which aims to position the U.S. as a leader in digital assets, aligns with the BITCOIN Act introduced in 2025.

Bitcoin Swap with Gold on the Agenda

In a recent broadcast, Hines clearly stated the government’s use of unconventional funding methods for its Bitcoin accumulation goal, saying: “Tariffs are possible, other creative ways too. Right now, everything is on the table.”

Among the proposed funding methods, redirecting customs revenues and revaluing gold certificates held by the Treasury to convert into Bitcoin stand out. Hines emphasized that these steps would not place an extra burden on taxpayers, meaning the cost would be “zero.”

Goal: Building a Digital Fort Knox with 1 Million Bitcoin

One of the most ambitious goals of the Trump administration is to accumulate 1 million Bitcoin within five years. This massive goal is detailed in the BITCOIN Act and is based on the idea of converting gold reserves into digital money.

Hines hinted that a portion of the gold in Fort Knox could be exchanged for BTC, expressing that this would be possible without disrupting the government’s balance sheet. It was stated that this process would be conducted by an interagency task force led by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.

Blockchain Technology is Transforming the Financial System

The Trump team is not only focused on building reserves but also emphasizes the transformative potential of blockchain technology on the American financial system. Hines noted that the current system is full of problems such as “hidden fees, slow transactions, and lack of transparency.”

“There is too much friction in our banking system,” said Hines, expressing his belief that blockchain will make the system more efficient and transparent. With Bitcoin and blockchain-based solutions, the goal is to increase financial inclusion and strengthen the U.S. position in the digital economy race.

America’s New Digital Power Strategy

While many countries around the world are working on central bank digital currencies and crypto reserves, the Trump administration is preparing to make Bitcoin a national security element with a different strategy.

This approach, to be implemented through tariffs, gold swaps, and coordination between public institutions, could provide a new roadmap for how governments might interact with decentralized financial systems.

Given the increasing institutional interest and the global competition environment, the U.S. plan to establish a Bitcoin reserve is no longer a dream, but is rapidly turning into a concrete strategy.

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White House Official: U.S. Wants to Acquire as Much Bitcoin as Possible

A White House official told crypto industry leaders this week that the Trump administration aims to acquire as much Bitcoin as possible.

During a closed-door meeting on Tuesday hosted by the Bitcoin Policy Institute, Bo Hines, Executive Director of the Presidential Working Group on Digital Assets, confirmed that the White House is intent on purchasing as much BTC as it can. When asked how much Bitcoin the government plans to acquire, Hines joked that it was like asking someone how many dollars they want.

White House officials confirmed Hines’ statement, emphasizing that the Bitcoin acquisitions would be “budget-neutral” and would not impose additional costs on taxpayers.

The meeting followed the “Bitcoin for America” policy summit and included prominent Bitcoin figures such as Michael Saylor, co-founder of Strategy, Fred Thiel, CEO of Marathon Digital, Nathan McCauley, CEO of Anchorage Digital, and David Bailey, CEO of Bitcoin Magazine. U.S. Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH) also attended the event.

White House Supports Legislation for Strategic Bitcoin Reserve

During the meeting, a participant asked Bo Hines if the White House supports the Bitcoin Act, a bill reintroduced by Senator Lummis, which requires the U.S. government to acquire one million BTC. The bill also aims to legalize the Strategic Bitcoin Reserve established by President Trump’s recent executive order.

In response, Hines turned to Lummis, seated next to him, and stated that the White House plans to support legislation to make the Strategic Bitcoin Reserve a law and will push for it to pass Congress. However, White House officials clarified that Hines did not explicitly endorse any specific piece of legislation during the meeting.

U.S. Bitcoin Reserve and Budget Debate Over Lummis’ Bill

The U.S. government is currently estimated to hold around 200,000 BTC, acquired through civil and criminal forfeitures. The White House has expressed support for acquiring more Bitcoin to build a strategic reserve, as long as the purchases remain “budget-neutral.”

Senator Lummis’ Bitcoin Act proposes to purchase $80 billion worth of BTC, and the financing is planned to come from the Federal Reserve’s gold certificates being revalued at current market prices. However, whether this method truly remains budget-neutral is a matter of debate.

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Saylor’s Strategic Bitcoin Proposal

Strategy founder Michael Saylor presented his new strategy document at the White House Crypto Summit on March 7. Saylor stated, “Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035.” According to the document, the US government should never sell its Bitcoin and could generate $10 trillion annually from its Strategic Bitcoin Reserve by 2045.

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Saylor also mentioned that the US Treasury and Commerce Department would develop “budget-neutral” strategies to fund these acquisitions without adding costs to taxpayers.

On the same day, Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, initially funded with crypto assets seized in criminal cases. While the order does not include an immediate plan to purchase more Bitcoin, detailed acquisition strategies are expected to be announced soon.

What Does 25% Supply Mean?

If the US government acquires 25% of Bitcoin’s total supply, it would hold approximately 5.25 million BTC. This figure far exceeds the 5% target proposed in the Bitcoin Act by Wyoming Senator Cynthia Lummis in July 2024.

Meanwhile, Saylor has continued to grow Strategy’s Bitcoin holdings. In February, he purchased an additional $2 billion worth of BTC, raising the company’s total to 500,000 BTC. This acquisition was funded by a $2 billion senior convertible note offering.

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