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Key Notes The Bitcoin Act bill by Sen. Cynthia Lummis expands on a Trump-era executive order and directs the Treasury to acquire Bitcoin. The 1 million BTC acquisition will happen over five years through budget-neutral strategies. While the legislation has only Republican backing so far, industry advocates are pushing to make the Bitcoin reserve a priority. Strategy (NASDAQ: MSTR) executive chairman Michael Saylor, along with top crypto leaders in the US, will be attending the crypto roundtable at Capitol Hill in Washington D.C. this week. The goal is to push forward the Bitcoin Act, which aims to acquire a total of 1 million BTC BTC $115 460 24h volatility: 0.5% Market cap: $2.30 T Vol. 24h: $39.20 B , as part of the US Treasury. Pushing ahead the 1 million bitcoin treasury plan On Sept. 16, more than a dozen crypto advocates will attend the roundtable at Capitol Hill, hosted by Sen. Cynthia Lummis and Rep. Nick Begich, the Republican sponsors of a bill to establish a US “strategic Bitcoin reserve”. Earlier this year, in March, Sen. Lummis reintroduced the BITCOIN Act titled the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act. The bill proposes designating bitcoin as a strategic reserve asset. It expanded further on the executive order signed by President Donald Trump, thereby directing the US government to create permanent bitcoin holdings similar to the nation’s gold reserves. The legislation calls for the US to acquire one million bitcoin over five years through “budget neutral strategies,” as proposed by US Treasury Secretary Scott Bessent. It also broadens Trump’s order that prohibited the sale of Bitcoin and other crypto assets forfeited to the government, instead requiring such assets to be stored in a separate “stockpile.” The effort comes as Congress continues to advance crypto-related legislation. This summer,…

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Filed under: News - @ September 16, 2025 10:30 am