Cryptocurrency advocates, including MicroStrategy co-founder Michael Saylor and Marathon Digital Holdings CEO Fred Thiel, are set to gather in Washington, D.C., on September 16 to promote legislation that could allow the US to acquire up to 1 million bitcoins.

The roundtable, hosted by Senator Cynthia Lummis and Representative Nick Begich, will discuss the “BITCOIN Act,” a bill seeking to establish bitcoin as a strategic reserve asset for the country.

Lummis reintroduced the bill in March, proposing the US acquire 1 million bitcoins over five years through “budget neutral strategies.”

The act builds on an earlier executive order by Donald Trump that prohibited the sale of cryptocurrency assets forfeited to the government and called for a separate cryptocurrency stockpile.

Currently, the bill has support only from Republicans and is before the House Financial Services and Senate Banking Committees, with no hearings scheduled yet.

The push comes as Congress has recently passed its first bill regulating stablecoins and is considering broader cryptocurrency regulations.

🔗 Source: The Block