A strategic U.S. stockpile of bitcoin is now among presidential candidate Donald Trump's campaign promises, and Sen. Cynthia Lummis is currently working on a bill to do it.
would set aside the country's existing holding of more than 200,000 bitcoin and add to it until the U.S. builds to a million of the tokens – or nearly 5% of the supply – by converting excess reserves in the Federal Reserve system. "For the U.S. to institute Bitcoin as a strategic reserve will similarly require further work including determining how much should be held as a reserve and the basis for that threshold, how to acquire, how and where to store, when to utilize and in what circumstances, which agency would be responsible, the timeline to implement, amongst several other considerations," said Rahul Mewawalla, CEO of Mawson Infrastructure Group, a bitcoin mining company, in an emailed statement.
Michael Saylor, executive chairman of software firm MicroStrategy , the largest corporate holder of bitcoin, made a case that the U.S. should aim quite a bit higher. He said it should acquire 4 million BTC to boost its Treasury and build its financial strength. He said one or two early-mover nations will have such a chance.