Another major macro event that many friends seem to have missed: a U.S. House committee advanced H.R. 8957 with a vote of 28:21. The bill would put the Strategic $BTC reserve into law, including at least a 20-year holding period and annual reporting requirements. This creates a strong contrast with the stalled CLARITY Act: on one side, the comprehensive market-structure bill could not move forward, and on the other, issues related to strategic reserves and taxes continue to progress. This is exactly what Ajian has always emphasized: U.S. crypto policy doesn’t move forward or backward as a whole—it follows different paths depending on the specific bill.

So the market will price this separately. Policies favorable to BTC don’t necessarily benefit every token at the same time; this bill is still more directly aimed at BTC. That also explains why when the comprehensive regulatory bill stalls, BTC may still show more policy resilience than altcoins.