On May 27, 2025, at the Bitcoin 2025 conference in Las Vegas, Matthew Sigel, the head of digital assets at VanEck, stated that for the United States to sustainably expand its strategic Bitcoin reserve, it should be achieved through congressional legislation rather than executive orders.
Sigel proposed introducing incentives for Bitcoin mining into the congressional budget reconciliation process. For example, offering tax credits to mining companies that use methane gas and encouraging miners to turn over a portion of their mined Bitcoin to the federal government, which would allow the reserve to grow organically over time. He pointed out that executive orders are prone to litigation. Additionally, he suggested starting with a $100 – million “exchange – rate stabilization fund”.
The Trump administration established the Bitcoin strategic reserve through an executive order on March 7, 2025. However, according to the law, it can only increase the reserve through budget – neutral strategies or asset forfeiture. Wyoming Senator Cynthia Lummis, who introduced relevant legislation in July 2024, proposed converting some of the Treasury’s gold certificates into Bitcoin. In March 2025, Bo Hines, the executive director of the Digital Asset Advisory Committee, further proposed re – evaluating the gold reserve at market prices and using the increased value to purchase Bitcoin.
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