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VanEck Executive: Congressional Action Needed for US Bitcoin Reserve Growth

According to Matthew Sigel, VanEck’s head of digital assets, establishing a substantial US Bitcoin reserve necessitates specific legislation, not merely executive orders. At Bitcoin 2025 in Las Vegas, Sigel proposed integrating Bitcoin mining incentives into the congressional budget reconciliation process as the most practical approach.

Sigel suggested targeted amendments to budget legislation. These could encompass tax credits for methane-utilizing mining companies and other inducements encouraging miners to contribute a portion of their BTC to the federal government. This, he argued, would organically expand the reserve over time.

Sigel highlighted the legal vulnerabilities of executive actions: “Executive action invites lawsuits. Anything exceeding $100 million will face legal challenges. Therefore, I suggest initiating with, perhaps, $100 million within the Exchange Stabilization Fund.”

President Trump’s March 7 executive order establishing the US Bitcoin Strategic Reserve stipulated budget-neutral acquisition methods or asset forfeiture. This sparked diverse strategies for augmenting the government’s Bitcoin holdings, which currently approach 200,000 BTC.

Bitcoin Regulation, US Government, United States, Bitcoin Reserve, Bitcoin2025
From left to right, Alex Thorn, Matthew Sigel, Matthew Pines and Fred Thiel. Source: Turner Wright/Cointelegraph

Related: Bitcoin’s new highs may have been driven by Japan bond market crisis

Alternative Proposals for Expanding the Bitcoin Reserve

Senator Cynthia Lummis, who introduced a Bitcoin reserve bill in July 2024, proposed converting a portion of the US Treasury’s gold certificates to Bitcoin. This, she stated, would allow Bitcoin acquisition without taxpayer expense.

Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, echoed this in March 2025, advocating for the US Treasury to revalue its gold holdings and allocate a portion of the realized gains to Bitcoin acquisition.

Gold’s price peaked at $3,500 per ounce in April, subsequently retracting slightly to around $3,300 on May 27.

Magazine: TradFi fans ignored Lyn Alden’s BTC tip — Now she says it’ll hit 7 figures: X Hall of Flame

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