According to Cointelegraph, building a permanent U.S. strategic Bitcoin reserve may necessitate legislative action rather than executive measures, as suggested by Matthew Sigel, VanEck’s head of digital assets. Speaking at Bitcoin 2025 in Las Vegas, Sigel proposed that the most feasible approach involves incorporating Bitcoin mining incentives into the congressional budget reconciliation process. Sigel emphasized that targeted amendments to congressional budget legislation could be the most effective strategy for expanding the U.S. strategic Bitcoin reserve. These amendments might include tax credits for mining companies utilizing methane gas and other incentives to encourage miners to allocate a portion of their mined Bitcoin to the federal government. He argued that this method would enable the reserve to grow organically over time. Sigel also pointed out the limitations of executive actions in achieving this goal, noting that executive measures could lead to legal challenges, particularly for initiatives exceeding $100 million.
U.S. President Donald Trump established the U.S. Bitcoin Strategic Reserve through an executive order on March 7. The order stipulates that the U.S. government can only acquire Bitcoin through budget-neutral strategies or asset forfeiture, sparking various ideas on how to enhance the government’s stockpile of nearly 200,000 BTC. Among the proposals, Wyoming Senator Cynthia Lummis, who introduced legislation for a Bitcoin strategic reserve in July 2024, suggested converting a portion of the gold certificates held by the U.S. Treasury into Bitcoin. Lummis argued that converting gold to Bitcoin would allow the U.S. government to acquire more Bitcoin without burdening taxpayers. Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, supported this idea in March 2025, urging the U.S. Treasury to revalue its gold holdings, currently priced at $42.22 per troy ounce, and convert some of those gains into Bitcoin. This strategy, according to Hines, would also be budget-neutral. The price of gold reached a record high of $3,500 per ounce in April but saw a slight decline to approximately $3,300 by May 27.
