{"id":130122,"date":"2025-05-27T22:15:35","date_gmt":"2025-05-27T22:15:35","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130122"},"modified":"2025-05-27T22:15:35","modified_gmt":"2025-05-27T22:15:35","slug":"growing-btc-reserve-requires-congressional-legislation-vaneck-exec","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130122","title":{"rendered":"Growing BTC reserve requires Congressional legislation \u2014 VanEck exec"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBuilding a permanent US strategic Bitcoin reserve would likely require targeted legislation rather than executive action, according to VanEck\u2019s head of digital assets, Matthew Sigel. Speaking at Bitcoin 2025 in Las Vegas, Sigel said the most viable path forward may involve inserting Bitcoin mining incentives into the congressional budget reconciliation process.<br \/>\nAccording to Sigel, the most effective path to growing a US strategic Bitcoin reserve would be through targeted amendments to congressional budget legislation. These could include tax credits for mining companies that use methane gas and other incentives aimed at encouraging miners to share a portion of their mined BTC with the federal government.<br \/>\nHe argued that such an approach would allow the reserve to grow organically over time. Sigel also highlighted the limitations of executive actions in achieving this goal:<br \/>\n&#8220;The problem with executive action is that it&#8217;s going to prompt lawsuits. And anything over $100 million is going to get sued by the Elizabeth Warrens of the world. So, I would say start with something maybe in the Exchange Stabilization Fund for $100 million.&#8221;<br \/>\nUS President Donald Trump established the\u00a0US Bitcoin Strategic Reserve through a March 7 executive order. According to the order, the US government can only acquire Bitcoin through budget-neutral strategies or asset forfeiture, prompting a range of different ideas on how to add to the government\u2019s stockpile of nearly 200,000 BTC.<br \/>\nFrom left to right, Alex Thorn, Matthew Sigel, Matthew Pines and Fred Thiel. Source: Turner Wright\/CointelegraphRelated: Bitcoin\u2019s new highs may have been driven by Japan bond market crisis<br \/>\nLawmakers, officials pitch different ideas to grow strategic Bitcoin reserve<br \/>\nWyoming Senator Cynthia Lummis, the US lawmaker who introduced legislation for a Bitcoin strategic reserve in July 2024, proposed converting a portion of the gold certificates held by the US Treasury to Bitcoin.<br \/>\nConverting gold to Bitcoin would allow the US government to purchase more Bitcoin without incurring a cost to the taxpayer, Lummis said.<br \/>\nBo Hines, the executive director of the President\u2019s Council of Advisers on Digital Assets, echoed the idea in March 2025.<br \/>\nHines called on the US Treasury to revalue its gold holdings, which are currently priced at just $42.22 per troy ounce, and convert a portion of those gains to Bitcoin. This strategy would also be budget-neutral, Hines said.<br \/>\nThe price of gold reached an all-time high of $3,500 per ounce in April but experienced a minor pullback to around $3,300 on May 27.<br \/>\nMagazine: TradFi fans ignored Lyn Alden\u2019s BTC tip \u2014 Now she says it\u2019ll hit 7 figures: X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/btc-reserve-requires-congressional-legislation?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBuilding a permanent US strategic Bitcoin reserve would likely require targeted legislation rather than executive action, according to VanEck\u2019s head of digital assets, Matthew Sigel. Speaking at Bitcoin&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130122"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130122"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130122\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130122"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}