Bitcoin treasuries have surpassed 4 million coins as major U.S. bank CEOs prepare to meet senators Thursday to shape cryptocurrency regulation.
The milestone reflects combined holdings across public companies, ETFs, governments and exchanges holding 4.05 million BTC representing 19% of Bitcoin's total supply.
Bank of America CEO Brian Moynihan, Citigroup CEO Jane Fraser and Wells Fargo CEO Charlie Scharf will meet with senators from both parties on December 11, according to Bloomberg.
The discussions, organized by the Financial Services Forum, signal traditional finance's push to influence digital asset frameworks.
What Happened
Public companies now hold 1.05 million BTC with Strategy leading at 650,000 coins.
Bitcoin ETFs control 1.54 million BTC while governments hold 644,329 BTC according to Bitcoin Treasuries data.
Private companies accumulated 279,185 BTC with exchanges and DeFi protocols contributing to the 4 million total.
The December 11 meeting will focus on banks' opposition to interest payments on stablecoins.
Banks argue attractive yields on stablecoins threaten traditional deposits by creating competitive disadvantages without regulatory parity.
The Financial Services Forum will address regulatory jurisdiction between the CFTC and SEC plus preventing illicit finance.
Senate Banking Committee Chairman Tim Scott plans to vote on digital asset market structure legislation this month.
Why It Matters
Institutional Bitcoin accumulation reached historic levels despite October seeing the lowest monthly corporate purchases of 14,400 BTC in 2025.
Strategy's holdings represent 3.1% of Bitcoin's 21 million supply cap while MARA Holdings controls 53,250 BTC as the second-largest corporate holder.
The banking CEOs' intervention marks a pivotal shift as institutions that previously urged regulators to shun crypto now actively shape its regulatory future.
Banks fear stablecoin platforms offering yields will drain deposits while operating without Basel III capital requirements.
Senate Democrats including Mark Warner and Kirsten Gillibrand are reviewing a compromise proposal from Republican negotiators.
The crypto industry raised over $263 million through political committees reinforcing its presence on Capitol Hill.
If passed, legislation would clarify CFTC oversight for digital commodity spot markets while maintaining SEC jurisdiction over securities.
The outcome could determine whether regulatory frameworks favor incumbent banks or enable crypto innovation and competition.