US to host meeting to promote BITCOIN Act

• On September 16, representatives of 18 companies, including cryptocurrency and traditional ones, will meet regarding the BITCOIN Act.
• In particular, Michael Saylor and Tom Lee will join the discussion on the Bitcoin Strategic Reserve.
• In addition, the participants in the process plan to find out the reasons for the legislative restrictions on the implementation of the initiative.

US lawmakers are preparing to meet with 18 crypto industry leaders, including Strategy (former MicroStrategy) co-founder Michael Saylor and BitMine CEO Tom Lee, to discuss advancing the BITCOIN Act. The bill would create a US strategic bitcoin reserve, Cointelegraph reported.

The meeting, organised by The Digital Chambers and its partner network The Digital Power Network, will take place on 16 September.

It is worth noting that the BITCOIN bill, introduced by Senator Cynthia Lummis first in July 2024 and again in March 2025, calls for the government to purchase 1 million BTC over five years.

The funding is to be provided through the Federal Reserve and the US Treasury Department, but only in a “budget-neutral manner,” according to an order from President Donald Trump.

“The focus will be on ensuring the strategic bitcoin reserve is advanced in a budget-neutral manner and building a coalition to pass the BITCOIN Act,” The Digital Chambers said.

Ideas for financing without putting a burden on taxpayers include revaluing Treasury gold certificates and using tariff revenues.

Participants in the meeting will also try to understand what has slowed down the bill's progress over the past six months and what the main objections are among legislators.

MARA CEO Fred Thiel and a number of top executives from mining companies, venture capital funds and traditional financial institutions are also expected to take part in the discussion.

Other representatives include Bitcoin mining companies CleanSpark and Bitdeer; venture capital firms Off the Chain Capital and Reserve One; and traditional financial institutions including Western Alliance Bank and Blue Square Wealth.

Let us recall that on March 7, 2025, Trump signed an executive order to create a Bitcoin reserve using confiscated crypto assets at the government’s disposal.

Source: cryptonews.net