US Lawmakers Consult Crypto Executives to Propel Bitcoin Reserve Legislation
On Tuesday, 18 prominent figures from the cryptocurrency sector, including Strategy chairman Michael Saylor and Fundstrat CEO Tom Lee, convened with US lawmakers in Washington, D.C., to discuss strategies for advancing the BITCOIN Act. This legislation, introduced by Senator Cynthia Lummis in March, advocates for the US government to acquire one million Bitcoin over a five-year span as part of President Donald Trump’s Strategic Bitcoin Reserve initiative.
The meeting, organized by crypto advocacy groups The Digital Chambers and The Digital Power Network, aims to build momentum for the bill amidst growing institutional interest in Bitcoin as a government-backed asset.
Strategy Expands Bitcoin Treasury to Over $73 Billion
Strategy, co-founded by Michael Saylor, has significantly increased its Bitcoin holdings, now totaling 638,985 BTC, valued at more than $73 billion. The latest acquisition involved purchasing 525 BTC for approximately $60 million at an average price of $114,562 per coin. This purchase is part of Strategy’s ongoing accumulation strategy that began in August 2020 with an initial $250 million investment.
Since then, Strategy has made multiple substantial purchases, including a reported $450 million buy in late August and early September. Saylor’s approach positions Bitcoin as a treasury asset and potential inflation hedge, marking a notable corporate adoption of cryptocurrency for balance sheet diversification.
London Stock Exchange Launches Blockchain Platform for Private Funds
The London Stock Exchange Group (LSEG) has introduced Digital Markets Infrastructure (DMI), a blockchain-based platform designed to support the full lifecycle of digital assets, from issuance and tokenization to post-trade settlement. Developed in partnership with Microsoft and operating on Microsoft Azure, DMI is the first blockchain infrastructure deployed by a major global stock exchange.
Initially, the platform supports private funds, enabling interoperability between distributed ledger technology and traditional financial systems. This aligns with LSEG’s aim to become the first global exchange group to provide comprehensive support across the funding continuum.
Private funds on DMI are discoverable by users of Workspace, facilitating interaction between general partners and professional investors. Early adopters include capital management firm MembersCap and Archax, a Financial Conduct Authority-regulated crypto exchange, which facilitated the platform’s inaugural transaction on behalf of the Cardano Foundation.
FinOracleAI — Market View
The engagement between US lawmakers and crypto executives signals potential regulatory clarity and institutional adoption, which could positively influence market sentiment. Strategy’s continued Bitcoin accumulation underscores strong corporate confidence in BTC as a treasury asset, reinforcing demand fundamentals. Meanwhile, the London Stock Exchange’s blockchain platform launch represents a significant step toward integrating traditional finance with digital assets, likely encouraging further institutional participation.
Risks include possible regulatory hurdles and market volatility affecting Bitcoin’s price. Investors should monitor progress on the BITCOIN Act and adoption rates of the LSE’s platform for indications of sustained growth in institutional crypto engagement.
Impact: positive
