Fred Thiel, CEO of Marathon Digital Holdings (MARA), has advocated for the United States to initiate its own Bitcoin mining operations to establish a strategic reserve. He emphasized that merely declaring the intent to create such a reserve is insufficient without tangible actions to accumulate Bitcoin assets.

Thiel's proposition aligns with a broader movement within the U.S. government to recognize Bitcoin as a strategic asset. In March 2025, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, utilizing approximately 200,000 BTC already held by the federal government. This initiative aims to position the U.S. as a leader in the global cryptocurrency landscape.

Marathon Digital has also adopted a "full HODL" strategy, choosing to retain all mined Bitcoin and purchasing additional BTC from the open market. This approach underscores the company's commitment to Bitcoin as a long-term strategic asset.

The concept of a national Bitcoin reserve has garnered political support, with figures like Senator Cynthia Lummis advocating for bipartisan legislation to formalize such reserves. However, the idea is not without criticism. Some economists argue that holding Bitcoin could introduce volatility and does not guarantee financial stability, potentially complicating government finances.

Thiel's call for the U.S. to actively mine and accumulate Bitcoin reflects a strategic vision to enhance national financial resilience and maintain a competitive edge in the evolving digital asset landscape.