Growing BTC reserve requires Congressional legislation — VanEck exec
Building a permanent US strategic Bitcoin reserve may require targeted legislation rather than executive action, according to Matthew Sigel of VanEck. He suggests incorporating Bitcoin mining incentives into congressional budget reconciliation. Effective strategies could include tax credits for miners using methane gas and incentives for sharing mined BTC with the government. Sigel emphasizes that executive actions could lead to lawsuits, particularly for amounts over $100 million. The US Bitcoin Strategic Reserve was established by an executive order from President Trump, allowing acquisition only through budget-neutral methods or asset forfeiture. Senator Cynthia Lummis proposed converting a portion of gold certificates held by the Treasury to Bitcoin, which would avoid taxpayer costs. Bo Hines supported this idea, advocating for the revaluation of gold holdings to facilitate Bitcoin purchases. Gold prices peaked at $3,500 per ounce in April but fell to around $3,300 by late May.
