Michael Saylor, Fred Thiel, and other industry leaders will meet with U.S. lawmakers on Capitol Hill to push the BITCOIN Act, a proposal calling for the U.S. government to acquire one million Bitcoin over five years.
Key Takeaways:
- The BITCOIN Act aims for the U.S. to build a Strategic Bitcoin Reserve by purchasing 1 million BTC over a five-year span, using budget-neutral mechanisms.
- Michael Saylor, Tom Lee and other high-profile crypto figures will participate in a roundtable with lawmakers to make the case for the bill and address obstacles to its passage.
- Markets showed muted movement on the headlines: Bitcoin was trading around $115,696 with limited intraday volatility.
A Capitol Hill roundtable is set for Tuesday, September 16, hosted by Senator Cynthia Lummis (R-Wyoming) and Representative Nick Begich, aimed at advancing the BITCOIN Act, according to a recent Cointelegraph report. Industry heavyweights from the crypto, mining, venture capital, and banking sectors will attend. Among them are Michael Saylor, Fred Thiel, and Tom Lee, alongside executives from companies like CleanSpark, Bitdeer, etc.
The BITCOIN Act calls for the acquisition of 1 million BTC over five years. That would represent a substantial reserve, in part to treat Bitcoin as a strategic asset somewhat akin to gold. The bill specifies that purchases must be done in a budget-neutral way, which means that they should not add to the deficit. Various funding strategies being discussed include tariff surpluses and adjustments to how U.S. holds gold or other assets.
Crypto Executives Outline Technical and Policy Concerns
Sponsors and hosts of the meeting, including Sen. Cynthia Lummis and Rep. Nick Begich, framed the discussion as exploratory: lawmakers want practical counsel on custody, market liquidity, reserve governance and the possible fiscal/monetary implications of holding Bitcoin on behalf of the United States.
Industry speakers emphasized operational readiness for custody and risk controls, while also arguing that a formal reserve could improve strategic diversification and encourage global competitiveness for U.S. financial infrastructure.
Bitcoin Price Steady Despite Political Headlines
Bitcoin remained in its sideways trading in its recent sessions, showing little to no reaction amid political headlines. As of this writing (8:45AM UTC), TradingView shows BTC is sitting around $115,696, exhibiting a roughly unchanged price movement with its modest 0.8% gain over the past 24 hours.
Institutional commentary published in recent days has highlighted ETF inflows and macro drivers (interest-rate expectations) as primary forces behind price action, and Tuesday’s policy meeting did not meaningfully alter that dynamic. Importantly, there was no immediate sign the roundtable pushed trading volumes or forced a >10% swing in either direction; markets appeared to treat the event as a political and policy development rather than a liquidity shock.
What’s Next for U.S. Bitcoin Policy
Expect incremental work: hearings, staff briefings and draft bill language before any floor votes. Markets will likely remain sensitive to macro drivers (Fed policy, ETF flows) while treating this roundtable as an early but important step in the policy process. For traders and investors building or defending a crypto portfolio, the practical takeaway is to monitor both legislative developments and traditional market signals; policy progress could be a multi-month process with gradual market effects rather than an immediate catalyst.
Summary
Lawmakers including Senator Cynthia Lummis and Representative Nick Begich are hosting a Capitol Hill roundtable with industry leaders like Michael Saylor and Marathon CEO Fred Thiel to advance the BITCOIN Act. The bill proposes the U.S. acquire 1 million BTC over five years through budget-neutral mechanisms, creating a Strategic Bitcoin Reserve. Executives will address custody, liquidity, and fiscal implications, while lawmakers gauge feasibility. Despite the headlines, BTC traded steady around $115,696, showing muted reaction. Analysts say macro drivers like Fed policy and ETF flows remain the main forces shaping markets.
