The U.S. House of Representatives Committee has approved a bill on a strategic Bitcoin reserve. 🇺🇸
Finally, this happened. For the first time, a BTC reserve bill passed committee. The vote was 28 against 21.
What exactly was adopted: the bill establishes a strategic Bitcoin reserve at the level of federal law. Now the administration can’t undo it with a simple executive order.
The key point is that the bitcoins the government already has are frozen for at least 20 years. They can’t be sold, exchanged, or used as collateral. Previously, the state would simply liquidate the confiscated coins, and now it will hold them.
But there’s a catch: the bill does not require buying new bitcoins. Only studying budget-neutral ways to increase the reserve, without new taxes or borrowing.
Passing committee is only the first step. More votes are needed in the House, the Senate, and the president’s signature. And given the election-related recess until then, the chances of passage this year are slim. The real route is to attach it to the defense bill at the end of the year.
Still, the fact that it moved off dead center already says a lot.
Do you think it will make it to the president’s signature, or will it stay stuck in committee? 👇
NFA. DYOR.
$BTC
Finally, this happened. For the first time, a BTC reserve bill passed committee. The vote was 28 against 21.
What exactly was adopted: the bill establishes a strategic Bitcoin reserve at the level of federal law. Now the administration can’t undo it with a simple executive order.
The key point is that the bitcoins the government already has are frozen for at least 20 years. They can’t be sold, exchanged, or used as collateral. Previously, the state would simply liquidate the confiscated coins, and now it will hold them.
But there’s a catch: the bill does not require buying new bitcoins. Only studying budget-neutral ways to increase the reserve, without new taxes or borrowing.
Passing committee is only the first step. More votes are needed in the House, the Senate, and the president’s signature. And given the election-related recess until then, the chances of passage this year are slim. The real route is to attach it to the defense bill at the end of the year.
Still, the fact that it moved off dead center already says a lot.
Do you think it will make it to the president’s signature, or will it stay stuck in committee? 👇
NFA. DYOR.
$BTC
