During the recent Bitcoin 2025 event in Las Vegas, Fred Thiel, CEO of Marathon Digital Holdings, outlined several ways the United States could create a Bitcoin reserve. Thiel suggested utilizing the nation’s excess hydroelectric power to domestically produce Bitcoin. This proposal aligns with a March presidential order by Trump, aiming to execute these actions without adding financial strain to the national budget.
US’s Approach to Reserve Creation
Although the strategic Bitcoin reserve received presidential approval in March, specific details regarding its implementation remain unannounced, causing frustration among industry players and event participants. Speakers at the event highlighted the urgency of securing the reserves.
Thiel warned against empty promises regarding reserve creation, emphasizing that actions must follow words.
Fred Thiel: “It is pointless for the US to declare ‘we are creating a strategic reserve’ if you do not start adding Bitcoin to it.”
What’s the Status of Existing Reserves?
Currently, the US holds around 200,000 BTC confiscated over time. Yet, according to industry figures and officials like Senator Cynthia Lummis, simply incorporating these Bitcoins into the reserve is an initial measure, and a robust, long-term plan is necessary.
Senator Lummis has reintroduced the BITCOIN Act of 2025 to support and formalize these plans. Her proposal involves converting part of the government’s gold assets into Bitcoin over the next few years.
Cynthia Lummis: “We have sufficient resources in our unused assets and could acquire 5% of Bitcoin’s total supply without spending a dime.”
Facing Legal Challenges
Numerous hurdles, both legal and societal, must be overcome before progressing on the Bitcoin reserve and related regulations. Movement on these fronts is poised to accelerate once Congress redefines its priorities and stablecoin legislation is established.
Acknowledging potential hurdles, Senator Lummis recognized the complexity of this initiative.
Cynthia Lummis: “I’ve realized this process could be more arduous than I anticipated because many people don’t understand Bitcoin.”
- Pursuit of a strategic Bitcoin reserve is evident among US officials and industry players.
- The endeavor hinges on the government’s ability to effectively leverage existing resources.
- Comprehensive understanding among lawmakers and stakeholders is crucial for advancement.
- Implementation depends on clear regulatory frameworks, especially those surrounding stablecoin policies.
The dialogue regarding the strategic Bitcoin reserve continues to evolve, with potential delays likely impacting progress. Clarifying regulations and fostering an informed political environment are critical to realizing the US’s ambitions in cryptocurrency policy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/us-pushes-forward-with-bitcoin-reserves-plan