You really want the US to be able to control the price of Bitcoin? Seriously? That's what having a reserve means, you know. That is why the US has a strategic reserve of oil, for instance.
What I want is irrelevant. What matters is the endgame. Bitcoin is the best money we ever had. It's a matter of time until it becomes the universal store of value, one could even argue the "world reserve currency". If it's inevitable to happen, then I'd rather it happening sooner rather than later.
Trying to use taxpayer dollars--especially that of the US, whom could buy basically all of it if they wanted to--as a way to make your Bitcoin go up in price is a foolish strategy that will undoubtedly achieve the opposite of what you want in the long run.
Here's what I read from decrypt.co:
Lummis claims that this would be paid by diversifying existing funds within the Federal Reserve, consisting of bonds, loans, and other assets like gold, which currently sits around $7 trillion—rather than creating additional debt.
“The Strategic Bitcoin Reserve would mirror the Treasury Department's existing responsibility for managing the nation's gold reserves, operating independently from the Federal Reserve System,” Lummis explained. “Our aim was to establish it as a modern parallel to our gold stockpile, serving as a digital-age hedge against economic uncertainty while maintaining the Treasury's historical role in safeguarding critical national reserves.”
Essentially, they plan to convert existing federal assets into bitcoin. This means that strategic reserves, which have already been taxed, are currently held in non-bitcoin assets. If I was American, I'd rather my confiscated money be used to strengthen the nation's financial security for the future, than be diluted into assets like gold that are gradually getting demonetized.