U.S. Bitcoin Reserve Needs Congressional Action, Sigel Asserts – Coincu

Matthew Sigel, head of digital assets at VanEck, called for congressional legislation to expand the U.S. strategic Bitcoin reserve at the “Bitcoin 2025” conference in Las Vegas.

Sigel’s proposal emphasizes the importance of legislative backing for a strategic Bitcoin reserve, highlighting the policy’s potential to strengthen the U.S.’s digital asset framework.

U.S. Bitcoin Reserve Expansion: Legislative vs. Executive Pathways

Matthew Sigel suggested congressional legislation as the main route for the U.S. to expand its Bitcoin reserves rather than through executive orders, emphasizing the importance of tax incentives for miners. He proposed starting with a $100 million allocation from the Exchange Stabilization Fund to kickstart the reserve initiative.

Shifts in mining incentives and the potential for a budget-neutral reserve strategy mark significant changes, reducing direct spending while boosting federal Bitcoin holdings. Adding methane-based tax incentives could also support sustainable mining practices.

Sigel stated that executive actions would likely face litigation, a concern reflected in his comments on “the Elizabeth Warrens of the world.” He underscored the need for bipartisan congressional methods to stabilize and grow the reserve without legal setbacks.

Bitcoin’s Impact on U.S. Strategic and Economic Landscape

Did you know? In 2022, El Salvador became the first country to adopt Bitcoin as legal tender, showcasing the potential for national BTC reserves.

Bitcoin (BTC) remains a predominant digital asset with a market capitalization of $2.17 trillion, dominating 62.97% of the crypto market per CoinMarketCap. Recent records indicate Bitcoin’s price at $109,167.07, reflecting a 30-day growth of 16.35% and a 90-day increase of 30.17%, marking a continuous upward trend.

Coincu research analysts note that establishing a Bitcoin reserve via legislation could enhance the United States’ strategic position globally. This may stimulate innovation in blockchain technology and reinforce regulatory clarity, possibly attracting more institutional investments.