On September 17, the US Congress held a high-profile meeting in Washington D.C. to discuss the progress of the "BITCOIN Act." The bill, reintroduced by Senator Cynthia Lummis in March this year, aims to purchase 1 million Bitcoin over the next five years as a national strategic reserve. Attendees included prominent political and industry figures such as Senators Ted Cruz and Marsha Blackburn, as well as MicroStrategy founder Michael Saylor. The meeting was highly enthusiastic, with participants generally agreeing that Bitcoin has the potential to become a strategic asset on par with gold.
According to the bill, the government plans to purchase no more than 200,000 Bitcoin annually, reaching 1 million in five years, with a total value of approximately $90 billion, accounting for 5% of Bitcoin’s total supply. The funding source is not through increased taxes or expanded deficits but by selling part of the Federal Reserve’s gold reserves, a strategy referred to as "budget-neutral." Supporters believe this will not only diversify reserve asset risks but also potentially inject new vitality into the US dollar’s role in the global monetary system.
In fact, as early as March 6 this year, the US established a "Strategic Bitcoin Reserve" through an executive order signed by President Trump and incorporated approximately 200,000 Bitcoin seized by the government into the reserve system. States have also taken action; for example, Texas enacted legislation to establish a state-level Bitcoin fund, planning to hold a substantial amount of crypto assets. To date, at least 10 states are exploring similar bills.
Behind the push for a Bitcoin reserve lies not only investment and fiscal strategies but also deeper geopolitical financial planning. IMF data shows that the US dollar’s share of global official reserves has fallen to a nearly 30-year low. The US hopes to consolidate its dominance in the global financial system by combining Bitcoin with stablecoins. Industry experts like BitMEX co-founder Arthur Hayes even predict that Bitcoin’s price could rise to $200,000 by the end of 2025.
However, challenges remain. Federal Reserve Chair Jerome Powell has explicitly stated that the Fed will not hold Bitcoin nor intends to promote related legal changes. Meanwhile, Bitcoin’s high volatility, limited payment functionality, and pricing issues have also raised doubts about its合理性 as a strategic asset.
Regardless of the controversies, the US has taken a critical step. The Bitcoin strategic reserve may not only reshape the US financial landscape but also potentially redefine the global monetary格局 in the 21st century.
