U.S. Congress to discuss Trump’s BTC reserve idea with panel of crypto veterans

The U.S. Congress is accelerating efforts to get a better understanding of the pros, cons, and overall impact of President Donald Trump’s idea to create a strategic Bitcoin reserve. Moving in this direction, a meeting has been organized to bring a panel of crypto experts face-to-face with the U.S. regulators to open dialogue around the strategic BTC reserve, which President Trump envisions as a long-term store for value.

Details on the BTC-centered meeting

The meeting has been slated for Tuesday, September 16 in Washington DC’s Capitol Hill and it will be co-hosted by Sen. Cynthia Lummis and Rep. Nick Begich — both of whom co-sponsored the Bitcoin Act in March. This legislation pitches BTC as a potential reserve asset for the country. Members from the Washington, DC-based crypto advocacy group, The Digital Chambers will also reportedly be part of the meeting.

Multi-billionaire Michael Saylor is part of the crypto panel that has been tapped in by the U.S. regulators for crucial analysis and insights on President Trump’s plan. Saylor has been one of the pioneers of using BTC as a reserve asset in the corporate ecosystem. His business intelligence company, Strategy, started acquiring BTC around 2020 and presently holds 638,985 BTC amounting to over $73 billion dollars in its reserves.

Cardano founder Charles Hoskinson, Andrew McCormick, head of eToro’s U.S. business, Fundstrat CEO Tom Lee, and MARA CEO Fred Thiel are among other crypto veterans who have been invited to be part of the crypto panel.

As part of the meeting, the industry experts will focus on discussing the possible ways to feed this strategic national BTC reserve without having to burden the tax payers. Reevaluating the Treasury’s gold certificates and utilizing tariff revenue are among points of assessment during the meeting.

Members from the traditional finance ecosystem will also be part of the discussion. According to reports, Western Alliance Bank’s David Fragale and Blue Square Wealth’s Jay Bluestine will be joining the meeting in the U.S. capital.

Trump’s BTC reserve plan

President Trump announced the creation of the strategic BTC reserve back in March this year. According to his plans, crypto assets seized during investigations should be allocated towards this BTC reserve and a separate altcoin stockpile. The idea is to store these assets as a long-term store of value. At the time of writing, BTC was trading at $115,205 — with its last time ATH having exceeding the mark of $124,000 earlier this year.

It is, however, notable that while BTC has shown signs of stabilization over the past few months, its still largely impacted by macro-economic changes which keeps its volatility element intact. This is among reasons why the Congress wishes to give a thorough analysis to the potential impacts of including BTC to its reserve assets.

Last week, the Congress has directed the Treasury Department to assess the custody, legalities, feasibility, and cybersecurity angles around a BTC reserve.

The U.S. lawmakers also wish to get a better understanding of how the creation of these crypto reserves impact the Treasury Forfeiture Fund (TFF) — that manages assets that have been seized and forfeited by various federal law enforcement agencies.