A coalition of the holders of Corporate Bitcoin (BTC) announced the first members of the Treasury Council on 16 September and positioned himself as lawyers for the adoption of federal bitcoin.
The Treasury Council comprises nine chief executives of companies that hold Bitcoin in their business treasury, led by strategy CEO Phong Le, Mara chairman Fred Thiel and Riot CEO Jason Les.
The group sent a formal letter to congress leadership that endorses the Bitcoin Act, while proponents of a dozen crypto proponents have a meeting with legislators on Capitol Hill.
Executive director Merris Badcock described the coalition as “an exclusive leadership body” that combines business leaders and policy makers to promote the role of crypto in the treasury strategy and global finances.
The formation of the Treasury Council reflects the growing business confidence in Bitcoin Treasury strategies.
Strategy has more than 440,000 BTC, while other members, including CleanSpark, American Bitcoin Corp and Bitdeer technologies, maintain important positions.
Capitol Hill Advocacy Push
More than a dozen Crypto proponents meet on 16 September Wetelers on Capitol Hill to discuss a strategic Bitcoin reserve and to promote it in a coordinated movement sponsored by the Digital Chamber, Digital Power Network and the Treasury Council.
The group offers testimony and industrial expertise to support legislative progress.
According to a message from the Digital Power Network, Nick Begich, Pat Harrigan, Michael Rulli, Bernie Moreno and Marsha Blackburn. All legislators who are present during the meeting have also co -sponsored the re -introduced Bitcoin Act of Senator Cynthia Lummis.
The legislation requires that the federal government acquires up to a million Bitcoin for up to five years, which is currently valued at around $ 116.5 billion.
Financing via FED reserves
The initiative would be funded by Netto Win and Treasury Certificate adjustments based on Gold Holdings, with updated ratings that cover costs. The Bitcoin storage facilities in the US bring the Bitcoin storage facility bill.
All taken Bitcoin must be held for at least 20 years and Treasury secretaries may not sell more than 10% of their participations in a period of two years.
President Donald Trump signed an executive order on 6 March on setting up a strategic bitcoin reserve and digital assets stock, whereby the federal government was dedicated to retain crypto as a long-term storage.
The order uses around 200,000 BTC in custody as the basis for the reserve.
Under the current executive order, the government will not actively acquire additional assets that go beyond Bitcoin, disappointing markets that expected immediate purchases.
Treasury secretary Scott Bessent confirmed that the administration is looking for budget-neutral strategies to expand Bitcoin Holdings without a taxpayer.