Recent legislative actions, such as passing stablecoin regulation bills, indicate a growing government willingness to incorporate digital assets into the financial framework.

Supporters argue that Bitcoin can serve as a vital long-term asset for national security and economic strength, seeking bipartisan backing.

Crypto advocates are participating in the Capitol Hill roundtable to push for the bill's passage and highlight Bitcoin's strategic importance.

The bill's broader goal is to formalize the U.S. government's strategic holdings of Bitcoin, expanding on existing executive orders to include deliberate accumulation.

Senator Cynthia Lummis and Representative Nick Begich are sponsoring the BITCOIN Act, which reintroduces and expands a Trump-era executive order to create a strategic Bitcoin reserve for the U.S.

The bill aims to establish a reserve of one million Bitcoin over five years through budget-neutral strategies, designating Bitcoin as a strategic asset to bolster national security and economic competitiveness.

Building on President Trump's executive order that mandated the holding of seized digital assets, the BITCOIN Act seeks to formalize the accumulation of Bitcoin as a strategic reserve.

The legislation is currently under review by the House Financial Services and Senate Banking Committees, with upcoming hearings and a bipartisan roundtable to strategize next steps.

Crypto leaders like Michael Saylor, Fred Thiel, and Charles Hoskinson are actively advocating for the bill, emphasizing Bitcoin's importance as a long-term strategic asset.

Michael Saylor, NASDAQ: MSTR's executive chairman, will participate in a Capitol Hill roundtable hosted by the bill's co-sponsors to promote bipartisan support.

Industry groups are stressing the importance of establishing a strategic Bitcoin reserve as part of broader efforts to regulate and integrate digital assets into the U.S. financial system.

Currently, the bill has only garnered support from Republican lawmakers, and it requires hearings before progressing further.