jakiro
Author: God’s grace
Digital gold is being loaded into the safe of the national reserves, and a silent financial revolution is taking place in Washington.
On September 17, Washington, DC, USA ushered in an important meeting on the future of cryptocurrencies.Several Congressional heavyweights and Bitcoin industry leaders gathered to discuss and promote“BITCOIN Act” Act.The bill, re-introduced by Senator Cynthia Lummis in March, plans to allow the U.S. government to go to the futurePurchase 1 million Bitcoins within five yearsAs a national strategic reserve.
In the conference room, the supporters’ faces were filled with excitement and expectation.Industry giants such as MicroStrategy founder Michael Saylor and other politicians such as Senators Ted Cruz and Marsha Blackburn were heated up.They know that the conference could be a turning point in currency history.
01 Meeting details are exposed
The meeting attracted many Republican members, including Senator Ted Cruz, Marsha Blackburn, and other important industry representatives, including MicroStrategy founder Michael Saylor.
Participants reached an agreement on the necessity of strategic Bitcoin reservesStrong consensus.Hailey Miller, head of policy at Digital Power Network, said: “There has been a lot of progress in the digital asset space, and the current goal is to ensure that the Bitcoin Act and strategic Bitcoin reserves continue to be priorities.”
The meeting discussed the next steps of the bill and strategies to win support from both parties.Although the bill has not scheduled a hearing, supporters hope it will be a “bipartisan opportunity.”
02 Detailed explanation of the bill
The BITCOIN Act was re-established in March this year by Senator Cynthia Lummis, aiming to include Bitcoin in the same way as theGold equal statusnational strategic reserve assets.
The most striking feature of the bill is its “budget-neutral strategy”, which means that the government will not buy Bitcoin by increasing taxes or expanding its deficit.Lummis recommends getting funds to buy Bitcoin by selling some of the Fed’s gold reserves.
According to the current market price, it is necessary to purchase 1 million Bitcoins$90 billion in funding.The bill plans to purchase no more than 200,000 bitcoins each year for five years, with a total purchase of 1 million bitcoins, which will account for about 5% of the total Bitcoin supply.
03 The Trump administration’s early actions
The Congressional meeting marked the United States’ shift from executive measures to legislative push.On March 6, 2025, US President Trump signed an executive order announcing the establishment of a “strategic Bitcoin reserve” and a “digital asset reserve library.”
The executive order will confiscate the government through judicial procedures and administrative fines200,000 Bitcoins(valued at approximately US$20 billion) included in the reserve.The Trump administration also demands that the government hold Bitcoin permanently, ban the sale, and deposit the confiscated crypto assets into independent reserves.
The Trump administration’s launch of Bitcoin strategic reserves is ostensibly for investment interests and giving back to voter support, but a deeper consideration is to dominate the development of global stablecoin and crypto markets.
04 All states have been actively exploring
Before the federal government action, U.S. states have begun to actively explore.March 9, 2025,TexasThe Senate passed Senate Bill No. 21, which will establish state Bitcoin reserves.
Texas Lieutenant Governor Dan Patrick announced that it will create a state-managed fund for holding Bitcoin and other cryptocurrencies, will hold at least $500 billion in cryptocurrencies and be eligible for state budget appropriations.
As of now, there have been at least10 statesRelevant legislation is being discussed.Texas practice provides a precedent for the federal government and also shows the rapid spread of the concept of Bitcoin reserves across the United States.
05 Deep motivation and global landscape
The deep motivations of the Trump administration to promote Bitcoin strategic reserves are worth paying attention to.Through the “USD-USD Stablecoin-Cryptocurrency Market” cycle, the United States aims to enhance the dominance of the US dollar in the global monetary system and its dominance in the global financial market.
In recent years, the dominance of the US dollar in the global monetary system has declined.According to the International Monetary Fund (IMF), the share of the US dollar in global official reserves fell to57.3%, the lowest level in the past 30 years since 1995.
BitMEX co-founder Arthur Hayes predicts that the price of Bitcoin may climb to $200,000 by the end of 2025, with U.S. Treasury bond repurchases being the main driver.He pointed out that this forecast is closely related to U.S. fiscal spending trends and broader political developments.
06 Controversy and Challenge
Although the cryptocurrency industry responds positively to the bill, Bitcoin’s “investment of reserves” still faces many challenges.Federal Reserve Chairman Powell responded that the Fed had no intention of including Bitcoin on its balance sheet.
Powell stressed that under the Federal Reserve Act, they cannot hold Bitcoin and do not intend to seek amendments to the relevant laws.He also said that the issue should be considered by Congress, and the Fed will not actively seek to change existing regulations.
Bitcoin as a strategic reserve assetSuitability is also questioned.A typical currency has three core functions at the same time – the unit of pricing, the medium of trading and the store of value, and Bitcoin has obvious shortcomings in its performance in these three aspects.
In addition, the price of Bitcoin fluctuates too much [cite:9].From the month from November 6, 2024 that Trump announced his victory to December 5, the price of Bitcoin has risen from less than US$75,000 per coin, and its stability is doubtful.
In May 2025, Donald Trump Jr. announced at the Bitcoin Conference in Las Vegas. Trump Media Group has accumulated value$2.5 billion Bitcoin Vault.
Senator Cynthia Lummis revealed at the same meeting that the U.S. military “expressed a strong interest” in Bitcoin’s strategic reserve plan, suggesting that Bitcoin could become a new tool for geopolitical games.
The United States has embarked on the path of incorporating Bitcoin into its national financial strategy.This path will not only reshape the financial future of the United States, but may also redefine the global monetary pattern in the 21st century.
