#Bitcoin Reserve Bill Passes the House 28-21
On Wednesday, the U.S. House Financial Services Committee passed H.R. 8957 by a vote of 28 to 21, writing the strategic bitcoin reserve created by the Trump executive order into law. The seized coins will be locked for 20 years and cannot be sold. The executive order can be undone if another president takes office, but legislation is the real way to make it stick. I checked the order book: $BTC is quoted at 76,233 USDT, up 0.67% over 24 hours; $SOL is quoted at 98.57 USDT, up 1.77%. With news this big, the market barely reacted.
Why? Because this vote only cleared the committee stage—there are still two more hurdles: the full House and the Senate. Also, since it was proposed in May and now, the market has already digested it. The real focus isn’t whether it’s up today, but that the 20-year lockup is essentially removing that batch of seized coins from the government’s hands out of circulation for the long term. If it truly gets all the way to final signature, the supply-side accounting will have to be recalculated.
Do you think this bill can actually pass the Senate?
On Wednesday, the U.S. House Financial Services Committee passed H.R. 8957 by a vote of 28 to 21, writing the strategic bitcoin reserve created by the Trump executive order into law. The seized coins will be locked for 20 years and cannot be sold. The executive order can be undone if another president takes office, but legislation is the real way to make it stick. I checked the order book: $BTC is quoted at 76,233 USDT, up 0.67% over 24 hours; $SOL is quoted at 98.57 USDT, up 1.77%. With news this big, the market barely reacted.
Why? Because this vote only cleared the committee stage—there are still two more hurdles: the full House and the Senate. Also, since it was proposed in May and now, the market has already digested it. The real focus isn’t whether it’s up today, but that the 20-year lockup is essentially removing that batch of seized coins from the government’s hands out of circulation for the long term. If it truly gets all the way to final signature, the supply-side accounting will have to be recalculated.
Do you think this bill can actually pass the Senate?